Stratasys (NASDAQ:SSYS) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Stratasys, Ltd. (NASDAQ:SSYS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.28 and traded as high as $11.47. Stratasys shares last traded at $10.95, with a volume of 613,098 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SSYS shares. Needham & Company LLC reduced their target price on Stratasys from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Cantor Fitzgerald boosted their price target on Stratasys from $13.00 to $13.50 and gave the stock an “overweight” rating in a report on Friday, November 14th. UBS Group reaffirmed an “overweight” rating on shares of Stratasys in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stratasys in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.75.

Stratasys Stock Up 0.2%

The firm has a market cap of $933.47 million, a price-to-earnings ratio of -6.77 and a beta of 1.65. The company has a quick ratio of 2.69, a current ratio of 3.65 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $10.12 and a 200-day moving average price of $10.28.

Stratasys (NASDAQ:SSYS) last released its earnings results on Thursday, November 13th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $136.97 million for the quarter, compared to the consensus estimate of $136.60 million. Stratasys had a negative return on equity of 0.72% and a negative net margin of 22.69%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, sell-side analysts forecast that Stratasys, Ltd. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Stratasys during the fourth quarter worth approximately $2,440,000. Formula Growth Ltd. grew its stake in shares of Stratasys by 15.8% during the 4th quarter. Formula Growth Ltd. now owns 660,000 shares of the technology company’s stock valued at $5,729,000 after buying an additional 90,000 shares during the period. Headlands Technologies LLC grew its stake in shares of Stratasys by 37.8% during the 4th quarter. Headlands Technologies LLC now owns 40,118 shares of the technology company’s stock valued at $348,000 after buying an additional 11,001 shares during the period. State Street Corp increased its holdings in shares of Stratasys by 998.4% during the 4th quarter. State Street Corp now owns 1,567,080 shares of the technology company’s stock worth $13,602,000 after buying an additional 1,424,415 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Stratasys by 8.9% in the 4th quarter. Van ECK Associates Corp now owns 19,475 shares of the technology company’s stock worth $169,000 after buying an additional 1,590 shares during the period. 75.77% of the stock is owned by institutional investors and hedge funds.

About Stratasys

Stratasys, Inc is a global leader in additive manufacturing and 3D printing solutions, offering a comprehensive portfolio of technologies and materials for rapid prototyping and production. Founded in 1989 by Scott and Lisa Crump, the company pioneered fused deposition modeling (FDM) and has since expanded its capabilities to include PolyJet, stereolithography and metal deposition systems. Stratasys serves a broad array of customers, from small design studios to major industrial manufacturers, enabling accelerated product development and on-demand part production.

The company’s product line encompasses both desktop and industrial-grade 3D printers, dedicated support materials and proprietary software designed to streamline the digital manufacturing workflow.