Short Interest in Stratasys Ltd. (NASDAQ:SSYS) Decreases By 17.1%

Stratasys Ltd. (NASDAQ:SSYS) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,550,000 shares, a decrease of 17.1% from the October 15th total of 1,870,000 shares. Based on an average daily volume of 540,200 shares, the short-interest ratio is presently 2.9 days. Currently, 2.7% of the shares of the stock are short sold.

Stratasys Price Performance

Shares of SSYS stock traded down $0.35 during mid-day trading on Friday, hitting $9.26. 756,420 shares of the stock traded hands, compared to its average volume of 506,009. The stock has a market cap of $660.98 million, a P/E ratio of -7.17 and a beta of 1.21. The stock’s fifty day moving average is $7.56 and its two-hundred day moving average is $8.21. Stratasys has a 52-week low of $6.05 and a 52-week high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. During the same quarter in the prior year, the business posted ($0.08) EPS. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Stratasys will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SSYS. Cantor Fitzgerald lowered their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. StockNews.com began coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating for the company. Craig Hallum boosted their target price on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday. Lake Street Capital lowered their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Loop Capital decreased their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.40.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rubric Capital Management LP increased its stake in shares of Stratasys by 3.7% in the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock valued at $51,447,000 after purchasing an additional 222,297 shares in the last quarter. Clearline Capital LP lifted its stake in Stratasys by 23.3% in the 3rd quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock valued at $11,362,000 after buying an additional 258,603 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Stratasys in the 3rd quarter worth about $10,916,000. Pinnacle Associates Ltd. raised its holdings in shares of Stratasys by 0.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after acquiring an additional 3,791 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Stratasys by 17.2% in the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after acquiring an additional 120,000 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

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.