Stratasys (NASDAQ:SSYS) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Stratasys (NASDAQ:SSYS) in a research report issued to clients and investors on Saturday. The firm set a “buy” rating on the technology company’s stock.

Separately, Cantor Fitzgerald started coverage on Stratasys in a research note on Tuesday, February 13th. They set an “overweight” rating and a $24.00 target price on the stock.

Stratasys Stock Performance

Shares of NASDAQ:SSYS opened at $10.02 on Friday. The firm has a 50 day simple moving average of $11.43 and a 200 day simple moving average of $12.01. Stratasys has a 52 week low of $9.43 and a 52 week high of $21.72. The company has a market cap of $697.99 million, a PE ratio of -5.60 and a beta of 1.29.

Stratasys (NASDAQ:SSYS) last released its earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The company had revenue of $156.34 million during the quarter, compared to analyst estimates of $153.96 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts predict that Stratasys will post -0.29 earnings per share for the current year.

Institutional Trading of Stratasys

Hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP grew its stake in Stratasys by 366.7% in the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after purchasing an additional 3,339,367 shares in the last quarter. Norges Bank bought a new stake in shares of Stratasys in the 4th quarter valued at approximately $6,706,000. Pinnacle Associates Ltd. increased its holdings in Stratasys by 42.3% in the third quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock worth $14,474,000 after buying an additional 315,868 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Stratasys by 24.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 928,580 shares of the technology company’s stock valued at $12,638,000 after acquiring an additional 185,000 shares in the last quarter. Finally, TSP Capital Management Group LLC lifted its stake in Stratasys by 71.2% in the fourth 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. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Stratasys Company Profile

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.