Stratasys (NASDAQ:SSYS) Shares Down 4.2% – Here’s Why

Shares of Stratasys Ltd. (NASDAQ:SSYS) fell 4.2% during mid-day trading on Friday . The company traded as low as $10.28 and last traded at $10.34. 94,752 shares traded hands during trading, a decline of 82% from the average session volume of 516,908 shares. The stock had previously closed at $10.79.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SSYS. StockNews.com lowered shares of Stratasys from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Lake Street Capital dropped their price objective on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Needham & Company LLC upped their price objective on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald dropped their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Craig Hallum upped their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Stratasys currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Stock Performance

The company’s 50 day moving average price is $8.47 and its 200 day moving average price is $8.22. The company has a market cap of $708.09 million, a price-to-earnings ratio of -7.59 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. During the same quarter in the prior year, the business posted ($0.05) EPS. Stratasys’s quarterly revenue was down 13.6% on a year-over-year basis. On average, equities research analysts forecast that Stratasys Ltd. will post -0.4 EPS for the current fiscal year.

Institutional Trading of Stratasys

Several large investors have recently modified their holdings of SSYS. Values First Advisors Inc. boosted its holdings in shares of Stratasys by 51.3% during the 2nd quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after buying an additional 11,254 shares during the period. TSP Capital Management Group LLC boosted its holdings in Stratasys by 3.7% in the 2nd quarter. TSP Capital Management Group LLC now owns 443,400 shares of the technology company’s stock valued at $3,720,000 after purchasing an additional 16,000 shares during the period. State of Michigan Retirement System boosted its holdings in Stratasys by 17.2% in the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after purchasing an additional 120,000 shares during the period. ARK Investment Management LLC boosted its holdings in Stratasys by 22.2% in the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after purchasing an additional 116,912 shares during the period. Finally, Trium Capital LLP boosted its holdings in Stratasys by 5.6% in the 2nd quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 8,052 shares during the period. 75.77% of the stock is owned by institutional investors.

About Stratasys

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.