StockNews.com Initiates Coverage on Stratasys (NASDAQ:SSYS)

StockNews.com began coverage on shares of Stratasys (NASDAQ:SSYS) in a report published on Sunday morning. 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 target price for the company.

Stratasys Price Performance

NASDAQ SSYS traded up $0.12 during trading on Friday, hitting $9.84. The company’s stock had a trading volume of 240,484 shares, compared to its average volume of 395,753. The business’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $11.95. Stratasys has a fifty-two week low of $9.43 and a fifty-two week high of $21.72.

Stratasys (NASDAQ:SSYS) last issued 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 the consensus estimate of $153.96 million. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities analysts expect that Stratasys will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

A number of institutional investors and hedge funds have recently modified their holdings of SSYS. RIA Advisory Group LLC acquired a new position in Stratasys in the fourth quarter valued at approximately $33,000. Larson Financial Group LLC lifted its holdings in Stratasys by 2,711.2% in the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock valued at $111,000 after acquiring an additional 9,218 shares during the period. Quantbot Technologies LP acquired a new position in Stratasys in the third quarter valued at approximately $158,000. Formidable Asset Management LLC lifted its holdings in Stratasys by 14.7% in the third quarter. Formidable Asset Management LLC now owns 17,547 shares of the technology company’s stock valued at $239,000 after acquiring an additional 2,250 shares during the period. Finally, Values First Advisors Inc. lifted its holdings in Stratasys by 11.5% in the third quarter. Values First Advisors Inc. now owns 18,824 shares of the technology company’s stock valued at $256,000 after acquiring an additional 1,936 shares during the period. Institutional investors and hedge funds own 75.77% of the company’s stock.

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.