Stratasys Ltd. (NASDAQ:SSYS) Short Interest Update

Stratasys Ltd. (NASDAQ:SSYS) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,550,000 shares, a decline of 17.1% from the October 15th total of 1,870,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 540,200 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of Stratasys

A number of institutional investors have recently added to or reduced their stakes in SSYS. Rubric Capital Management LP lifted its position in shares of Stratasys by 3.7% during 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 acquiring an additional 222,297 shares during the period. Clearline Capital LP raised its holdings in Stratasys by 23.3% during the third quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after purchasing an additional 258,603 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Stratasys during the third quarter worth $10,916,000. Pinnacle Associates Ltd. grew its holdings in Stratasys by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after purchasing an additional 3,791 shares during the last quarter. Finally, State of Michigan Retirement System increased its position 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 valued at $6,859,000 after buying an additional 120,000 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Stratasys Trading Down 3.6 %

NASDAQ SSYS opened at $9.26 on Friday. The business’s 50 day moving average is $7.62 and its two-hundred day moving average is $8.19. The stock has a market capitalization of $660.98 million, a price-to-earnings ratio of -7.02 and a beta of 1.21. Stratasys has a 12-month low of $6.05 and a 12-month high of $14.93.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. Stratasys’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Equities analysts forecast that Stratasys will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on SSYS shares. Lake Street Capital reduced their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Cantor Fitzgerald decreased their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Needham & Company LLC boosted their price target on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com started coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Craig Hallum upped their price target on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.40.

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.