Stratasys (NASDAQ:SSYS) Stock Price Up 6.5% – Still a Buy?

Shares of Stratasys Ltd. (NASDAQ:SSYS) were up 6.5% during mid-day trading on Tuesday . The stock traded as high as $7.59 and last traded at $7.59. Approximately 164,969 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 479,843 shares. The stock had previously closed at $7.13.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SSYS. Loop Capital reduced their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. StockNews.com assumed coverage on Stratasys in a research report on Monday, September 2nd. They set a “hold” rating on the stock. Needham & Company LLC decreased their target price on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 30th. Lake Street Capital cut their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Cantor Fitzgerald decreased their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.80.

Stratasys Price Performance

The company has a market capitalization of $558.18 million, a price-to-earnings ratio of -4.70 and a beta of 1.21. The stock has a 50 day simple moving average of $7.32 and a two-hundred day simple moving average of $8.26.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. Equities research analysts predict that Stratasys Ltd. will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Stratasys by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,596 shares of the technology company’s stock worth $2,180,000 after purchasing an additional 10,561 shares in the last quarter. Larson Financial Group LLC increased its position in Stratasys by 2,711.2% during the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock worth $111,000 after buying an additional 9,218 shares during the period. Essex Investment Management Co. LLC lifted its stake in Stratasys by 1.9% in the first quarter. Essex Investment Management Co. LLC now owns 135,324 shares of the technology company’s stock valued at $1,572,000 after buying an additional 2,528 shares during the last quarter. RPG Investment Advisory LLC boosted its holdings in shares of Stratasys by 13.6% in the first quarter. RPG Investment Advisory LLC now owns 479,928 shares of the technology company’s stock valued at $5,577,000 after acquiring an additional 57,421 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Stratasys during the first quarter worth approximately $61,000. 75.77% of the stock is currently owned by institutional investors and hedge funds.

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.