Stratasys (NASDAQ:SSYS) Shares Gap Up – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.39, but opened at $10.30. Stratasys shares last traded at $10.04, with a volume of 898,128 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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 note on Thursday. StockNews.com assumed coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Cantor Fitzgerald dropped their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Craig Hallum boosted their price target on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Loop Capital dropped their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Stock Down 4.9 %

The business has a 50-day moving average price of $7.49 and a two-hundred day moving average price of $8.20. The company has a market capitalization of $685.96 million, a price-to-earnings ratio of -6.00 and a beta of 1.21.

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 analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Stratasys’s revenue for the quarter was down 13.6% on a year-over-year basis. On average, sell-side analysts anticipate that Stratasys Ltd. will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Several institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL grew its holdings in Stratasys by 4.0% during the first quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after buying an additional 1,850 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Stratasys by 0.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after buying an additional 3,791 shares in the last quarter. ARK Investment Management LLC grew its holdings in Stratasys by 0.7% during the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after buying an additional 4,589 shares in the last quarter. Crewe Advisors LLC bought a new stake in Stratasys during the first quarter worth $61,000. Finally, Trium Capital LLP grew its holdings in Stratasys by 5.6% during the second quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock worth $1,266,000 after buying an additional 8,052 shares in the last quarter. 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.