StockNews.com Initiates Coverage on Stratasys (NASDAQ:SSYS)

StockNews.com started coverage on shares of Stratasys (NASDAQ:SSYS) in a research note released on Friday morning. The firm issued a buy rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald assumed coverage on Stratasys in a research report on Tuesday, February 13th. They set an overweight rating and a $24.00 price target for the company. Needham & Company LLC restated a buy rating and set a $16.00 target price on shares of Stratasys in a report on Tuesday, December 26th.

Stratasys Trading Down 1.9 %

NASDAQ SSYS opened at $9.83 on Friday. The stock has a 50-day moving average of $11.70 and a 200-day moving average of $12.07. Stratasys has a 1-year low of $9.43 and a 1-year high of $21.72. The firm has a market cap of $684.76 million, a PE ratio of -5.49 and a beta of 1.29.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $156.34 million during the quarter, compared to analyst estimates of $153.96 million. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, equities research analysts forecast that Stratasys will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

Several large investors have recently bought and sold shares of SSYS. Rubric Capital Management LP lifted its stake in shares of Stratasys by 366.7% in the 4th quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after purchasing an additional 3,339,367 shares during the period. Frontier Capital Management Co. LLC raised its holdings in Stratasys by 9.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after purchasing an additional 140,841 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Stratasys by 9.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,386,788 shares of the technology company’s stock valued at $19,803,000 after buying an additional 119,922 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of Stratasys by 0.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock valued at $15,649,000 after buying an additional 3,712 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Stratasys by 42.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock worth $14,474,000 after buying an additional 315,868 shares during the period. 75.77% of the stock is owned by institutional investors.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.