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

Investment analysts at StockNews.com assumed coverage on shares of Stratasys (NASDAQ:SSYS) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on SSYS. Cantor Fitzgerald began coverage on shares of Stratasys in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $24.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Stratasys in a research note on Tuesday, December 26th.

Stratasys Stock Down 5.8 %

NASDAQ SSYS opened at $10.64 on Thursday. The company has a market cap of $741.18 million, a PE ratio of -5.94 and a beta of 1.29. Stratasys has a 52 week low of $9.95 and a 52 week high of $21.72. The firm’s 50-day simple moving average is $12.21 and its two-hundred day simple moving average is $12.23.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. grew its position in Stratasys by 4.4% during the fourth quarter. Values First Advisors Inc. now owns 19,652 shares of the technology company’s stock valued at $281,000 after acquiring an additional 828 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Stratasys by 2.0% in the first quarter. Citigroup Inc. now owns 57,325 shares of the technology company’s stock worth $948,000 after purchasing an additional 1,148 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Stratasys by 6.3% in the third quarter. Van ECK Associates Corp now owns 20,306 shares of the technology company’s stock worth $276,000 after purchasing an additional 1,199 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Stratasys by 2.7% in the third quarter. Vanguard Group Inc. now owns 45,650 shares of the technology company’s stock worth $658,000 after purchasing an additional 1,213 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Stratasys by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 15,979 shares of the technology company’s stock worth $406,000 after purchasing an additional 1,298 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors.

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.