Stratasys (NASDAQ:SSYS) Trading Down 8.1%

Stratasys Ltd (NASDAQ:SSYS)’s stock price was down 8.1% during mid-day trading on Monday . The stock traded as low as $13.56 and last traded at $13.65. Approximately 1,185,183 shares were traded during trading, an increase of 36% from the average daily volume of 872,314 shares. The stock had previously closed at $14.86.

Several research analysts have recently issued reports on SSYS shares. BidaskClub upgraded shares of Stratasys from a “sell” rating to a “hold” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. downgraded shares of Stratasys from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $18.00 in a report on Thursday, September 24th. Finally, Berenberg Bank started coverage on shares of Stratasys in a report on Friday, October 9th. They set a “buy” rating and a $18.00 price target for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $19.71.

The firm has a market cap of $738.21 million, a P/E ratio of -12.44 and a beta of 1.54. The stock’s 50-day simple moving average is $13.82 and its 200 day simple moving average is $15.57.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. The business had revenue of $117.60 million for the quarter, compared to analysts’ expectations of $121.74 million. Stratasys had a negative net margin of 10.46% and a negative return on equity of 1.97%. The business’s quarterly revenue was down 27.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Equities analysts expect that Stratasys Ltd will post -0.67 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Ovata Capital Management Ltd bought a new position in shares of Stratasys during the 2nd quarter worth about $56,000. FNY Investment Advisers LLC lifted its position in Stratasys by 203.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 4,554 shares of the technology company’s stock valued at $56,000 after acquiring an additional 3,054 shares in the last quarter. NEXT Financial Group Inc bought a new position in Stratasys in the 3rd quarter valued at about $75,000. Advisor Group Holdings Inc. bought a new position in Stratasys in the 1st quarter valued at about $146,000. Finally, Private Advisor Group LLC bought a new position in Stratasys in the 2nd quarter valued at about $150,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

About Stratasys (NASDAQ:SSYS)

Stratasys Ltd. provides 3D printing and additive manufacturing solutions for individuals, businesses, and enterprises. Its 3D printing systems utilize its fused deposition modeling (FDM) and inkjet-based PolyJet technologies to enable the production of prototypes, tools used for production, and manufactured goods directly from 3D CAD files or other 3D content.

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