Stratasys Ltd. (NASDAQ:SSYS) Short Interest Down 18.2% in March

Stratasys Ltd. (NASDAQ:SSYS) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,530,000 shares, a decline of 18.2% from the March 15th total of 1,870,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 366,600 shares, the short-interest ratio is currently 4.2 days.

Stratasys Stock Performance

Shares of SSYS opened at $10.09 on Monday. The company has a 50-day moving average of $12.09 and a two-hundred day moving average of $12.20. Stratasys has a 12-month low of $9.95 and a 12-month high of $21.72.

Stratasys (NASDAQ:SSYS) last announced its 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. The company had revenue of $156.34 million during the quarter, compared to analysts’ expectations of $153.96 million. Stratasys had a negative net margin of 19.61% and a negative return on equity of 2.28%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, equities research analysts expect that Stratasys will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

SSYS has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Stratasys in a report on Tuesday, December 26th. Cantor Fitzgerald initiated coverage on shares of Stratasys in a report on Tuesday, February 13th. They set an “overweight” rating and a $24.00 price objective on the stock. Finally, StockNews.com assumed coverage on shares of Stratasys in a report on Thursday. They set a “buy” rating on the stock.

Hedge Funds Weigh In On Stratasys

A number of institutional investors have recently modified their holdings of SSYS. Bank of New York Mellon Corp lifted its position in shares of Stratasys by 8.8% during 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Stratasys by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,789 shares of the technology company’s stock worth $350,000 after buying an additional 1,970 shares in the last quarter. HighTower Advisors LLC boosted its position in Stratasys by 11.7% in the 1st quarter. HighTower Advisors LLC now owns 17,367 shares of the technology company’s stock valued at $438,000 after buying an additional 1,817 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Stratasys by 88.9% during the first quarter. PNC Financial Services Group Inc. now owns 21,250 shares of the technology company’s stock valued at $540,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Stratasys by 27.3% during the first quarter. Natixis Advisors L.P. now owns 22,836 shares of the technology company’s stock worth $580,000 after acquiring an additional 4,903 shares during the last quarter. Institutional investors and hedge funds 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.