Stratasys (NASDAQ:SSYS) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Stratasys (NASDAQ:SSYS) in a research note released on Saturday. The brokerage issued a buy rating on the technology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on Stratasys in a report on Tuesday, February 13th. They set an overweight rating and a $24.00 price target for the company.

Stratasys Price Performance

NASDAQ:SSYS opened at $10.02 on Friday. The stock has a 50 day simple moving average of $11.43 and a 200 day simple moving average of $12.01. Stratasys has a 1-year low of $9.43 and a 1-year high of $21.72.

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

Hedge Funds Weigh In On Stratasys

A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. increased its stake in Stratasys by 0.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,055,630 shares of the technology company’s stock worth $12,266,000 after acquiring an additional 4,991 shares during the period. Douglas Lane & Associates LLC increased its stake in Stratasys by 0.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock worth $15,649,000 after acquiring an additional 3,712 shares during the period. Granahan Investment Management LLC increased its stake in Stratasys by 7.4% during the 4th quarter. Granahan Investment Management LLC now owns 1,015,899 shares of the technology company’s stock worth $14,507,000 after acquiring an additional 69,927 shares during the period. Frontier Capital Management Co. LLC increased its stake in Stratasys by 9.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after acquiring an additional 140,841 shares during the period. Finally, Rubric Capital Management LP increased its stake in Stratasys by 366.7% during 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 period. Institutional investors own 75.77% of the company’s stock.

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.