Stratasys (NASDAQ:SSYS) Trading Down 8.8% – Here’s Why

Stratasys, Ltd. (NASDAQ:SSYS) shares were down 8.8% on Thursday . The stock traded as low as $7.82 and last traded at $7.84. 1,506,154 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 914,439 shares. The stock had previously closed at $8.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Stratasys in a research report on Tuesday. Zacks Research raised shares of Stratasys from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.33.

Stratasys Trading Up 0.5%

The firm’s 50-day simple moving average is $8.43 and its two-hundred day simple moving average is $8.84. The company has a market cap of $680.74 million, a PE ratio of -5.90 and a beta of 1.94.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Wednesday, July 1st. The technology company reported $0.03 earnings per share for the quarter. Stratasys had a negative net margin of 21.05% and a negative return on equity of 1.77%. The firm had revenue of $137.61 million for the quarter. As a group, analysts predict that Stratasys, Ltd. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Several hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new stake in Stratasys during the first quarter worth about $11,107,000. Monaco Asset Management SAM acquired a new position in Stratasys in the fourth quarter valued at approximately $998,000. Rubric Capital Management LP lifted its holdings in Stratasys by 9.0% in the first quarter. Rubric Capital Management LP now owns 8,000,000 shares of the technology company’s stock valued at $62,480,000 after acquiring an additional 659,974 shares during the period. State of Michigan Retirement System purchased a new stake in Stratasys in the 1st quarter worth approximately $3,905,000. Finally, UBS Group AG boosted its position in Stratasys by 87.4% in the 4th quarter. UBS Group AG now owns 632,518 shares of the technology company’s stock worth $5,490,000 after purchasing an additional 294,908 shares in the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.

About Stratasys

Stratasys, Inc is a global leader in additive manufacturing and 3D printing solutions, offering a comprehensive portfolio of technologies and materials for rapid prototyping and production. Founded in 1989 by Scott and Lisa Crump, the company pioneered fused deposition modeling (FDM) and has since expanded its capabilities to include PolyJet, stereolithography and metal deposition systems. Stratasys serves a broad array of customers, from small design studios to major industrial manufacturers, enabling accelerated product development and on-demand part production.

The company’s product line encompasses both desktop and industrial-grade 3D printers, dedicated support materials and proprietary software designed to streamline the digital manufacturing workflow.