Stratasys (NASDAQ:SSYS) Sees Large Volume Increase – Time to Buy?

Stratasys Ltd. (NASDAQ:SSYS) shares saw strong trading volume on Friday . 428,151 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 387,029 shares.The stock last traded at $9.81 and had previously closed at $9.21.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SSYS. Needham & Company LLC increased their target price on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Craig Hallum boosted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Up 8.7 %

The business’s 50 day moving average price is $9.41 and its 200-day moving average price is $8.33. The company has a market cap of $714.87 million, a PE ratio of -7.59 and a beta of 1.31.

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

Hedge Funds Weigh In On Stratasys

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its position in shares of Stratasys by 1.4% in the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock worth $877,000 after purchasing an additional 1,500 shares during the last quarter. Barclays PLC raised its stake in Stratasys by 1.9% during the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock valued at $669,000 after buying an additional 1,525 shares in the last quarter. Tidal Investments LLC lifted its holdings in Stratasys by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock worth $467,000 after buying an additional 2,483 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Stratasys by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after acquiring an additional 3,791 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock valued at $5,378,000 after acquiring an additional 4,589 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other 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.