Stratasys (NASDAQ:SSYS) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Stratasys (NASDAQ:SSYS) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Stratasys in a research note on Tuesday, December 26th. Cantor Fitzgerald initiated coverage on Stratasys in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $24.00 price target for the company.

Stratasys Trading Down 3.4 %

Shares of NASDAQ:SSYS opened at $10.09 on Thursday. The stock has a 50 day moving average of $12.09 and a 200 day moving average of $12.20. The company has a market cap of $702.87 million, a PE ratio of -5.64 and a beta of 1.29. Stratasys has a 12-month low of $9.95 and a 12-month high of $21.72.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $156.34 million during the quarter, compared to analyst estimates of $153.96 million. Stratasys had a negative net margin of 19.61% and a negative return on equity of 2.28%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. Equities research analysts predict that Stratasys will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP increased its stake in Stratasys by 366.7% in the 4th quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock worth $60,690,000 after acquiring an additional 3,339,367 shares during the last quarter. Norges Bank bought a new stake in Stratasys in the fourth quarter worth $8,760,000. Point72 Asset Management L.P. purchased a new stake in Stratasys during the fourth quarter valued at $6,355,000. Wellington Management Group LLP bought a new position in Stratasys during the first quarter valued at $10,325,000. Finally, Pinnacle Associates Ltd. lifted its position in Stratasys by 42.3% during the third quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock valued at $14,474,000 after purchasing an additional 315,868 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

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.