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

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

Several other analysts have also recently weighed in on SSYS. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Stratasys in a research report on Tuesday, December 26th. Cantor Fitzgerald started coverage on Stratasys in a research report on Tuesday, February 13th. They set an “overweight” rating and a $24.00 price target on the stock.

Stratasys Stock Up 1.4 %

Shares of NASDAQ SSYS opened at $9.93 on Friday. The stock’s 50-day simple moving average is $11.82 and its two-hundred day simple moving average is $12.12. Stratasys has a twelve month low of $9.43 and a twelve month high of $21.72. The firm has a market capitalization of $691.72 million, a P/E ratio of -5.55 and a beta of 1.29.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $156.34 million for 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%. Stratasys’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. As a group, research analysts anticipate that Stratasys will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

A number of institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. raised its position in Stratasys by 42.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock worth $14,474,000 after purchasing an additional 315,868 shares during the period. TSP Capital Management Group LLC lifted its stake in shares of Stratasys by 71.2% in the 4th quarter. TSP Capital Management Group LLC now owns 426,400 shares of the technology company’s stock valued at $6,089,000 after acquiring an additional 177,350 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Stratasys during the 3rd quarter valued at about $757,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Stratasys by 10.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,028,580 shares of the technology company’s stock worth $14,688,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Ardsley Advisory Partners LP purchased a new position in Stratasys in the 3rd quarter worth approximately $1,361,000. Hedge funds and other 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.