Clearline Capital LP Raises Stake in Stratasys Ltd. (NASDAQ:SSYS)

Clearline Capital LP grew its holdings in shares of Stratasys Ltd. (NASDAQ:SSYS) by 23.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,367,226 shares of the technology company’s stock after acquiring an additional 258,603 shares during the quarter. Clearline Capital LP’s holdings in Stratasys were worth $11,362,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Verition Fund Management LLC bought a new stake in shares of Stratasys in the 3rd quarter valued at about $322,000. Rubric Capital Management LP increased its stake in Stratasys by 3.7% in the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after purchasing an additional 222,297 shares during the period. BNP Paribas Financial Markets increased its stake in Stratasys by 785.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 129,728 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 115,080 shares during the period. Quantbot Technologies LP bought a new stake in Stratasys in the third quarter valued at approximately $90,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock valued at $563,000 after purchasing an additional 56,699 shares during the period. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Stratasys Stock Performance

SSYS stock opened at $9.62 on Monday. The company has a market capitalization of $686.68 million, a price-to-earnings ratio of -7.29 and a beta of 1.21. The business’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.17. Stratasys Ltd. has a fifty-two week low of $6.05 and a fifty-two week high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.49 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. Sell-side analysts forecast that Stratasys Ltd. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Loop Capital dropped their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Lake Street Capital lowered their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Needham & Company LLC lifted their price objective on Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald decreased their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, StockNews.com upgraded shares of Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.