Stratasys (NASDAQ:SSYS) Hits New 1-Year Low – Here’s What Happened

Stratasys, Ltd. (NASDAQ:SSYS)’s stock price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $6.52 and last traded at $6.4520, with a volume of 60,596 shares traded. The stock had previously closed at $6.82.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Zacks Research downgraded Stratasys from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stratasys in a research report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Stratasys has an average rating of “Moderate Buy” and an average price target of $12.33.

Stratasys Stock Down 8.6%

The stock has a market cap of $549.18 million, a P/E ratio of -4.65 and a beta of 1.83. The firm’s 50-day moving average is $7.65 and its two-hundred day moving average is $8.64.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, July 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $137.61 million during the quarter. Stratasys had a negative net margin of 21.05% and a negative return on equity of 1.77%. Analysts anticipate that Stratasys, Ltd. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SSYS. Rubric Capital Management LP lifted its stake in shares of Stratasys by 9.0% in the 1st quarter. Rubric Capital Management LP now owns 8,000,000 shares of the technology company’s stock valued at $62,480,000 after purchasing an additional 659,974 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Stratasys in the first quarter worth $11,107,000. Kopion Asset Management LLC increased its position in Stratasys by 11.0% during the third quarter. Kopion Asset Management LLC now owns 1,052,341 shares of the technology company’s stock worth $8,745,000 after buying an additional 104,371 shares during the last quarter. State of Michigan Retirement System acquired a new position in Stratasys during the first quarter worth $3,905,000. Finally, Tidal Investments LLC increased its position in Stratasys by 116.7% during the second quarter. Tidal Investments LLC now owns 128,353 shares of the technology company’s stock worth $1,099,000 after buying an additional 69,115 shares during the last quarter. Institutional investors own 75.77% of the company’s stock.

Stratasys Company Profile

Stratasys Ltd. (NASDAQ: SSYS) is an additive manufacturing company that develops and supplies 3D printing systems, materials, software and related services. Its technologies are designed for prototyping, tooling and production applications across a range of industries.

The company’s portfolio includes polymer-based 3D printing platforms using technologies such as Fused Deposition Modeling, PolyJet and stereolithography. Stratasys also provides proprietary printing materials, workflow and design software, technical support, and manufacturing services.