Invenomic Capital Management LP Purchases Shares of 1,313,570 Stratasys Ltd. (NASDAQ:SSYS)

Invenomic Capital Management LP bought a new position in shares of Stratasys Ltd. (NASDAQ:SSYS) in the third quarter, Holdings Channel reports. The firm bought 1,313,570 shares of the technology company’s stock, valued at approximately $10,916,000.

A number of other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Stratasys in the 3rd quarter valued at approximately $90,000. Values First Advisors Inc. increased its position in Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after buying an additional 11,254 shares during the period. Verition Fund Management LLC acquired a new stake in Stratasys in the third quarter worth $322,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Stratasys by 510.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after buying an additional 56,699 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Stratasys in the first quarter worth $598,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Stratasys Trading Up 1.0 %

NASDAQ:SSYS opened at $9.66 on Tuesday. Stratasys Ltd. has a 1 year low of $6.05 and a 1 year high of $14.93. The stock has a market cap of $689.53 million, a price-to-earnings ratio of -7.24 and a beta of 1.31. The stock has a 50-day moving average price of $8.13 and a two-hundred day moving average price of $8.17.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on SSYS shares. Loop Capital decreased their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC raised their price target on Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Lake Street Capital cut their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Craig Hallum increased their price objective on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald lowered their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Stratasys currently has an average rating of “Moderate Buy” and a consensus price target 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.