Exchange Traded Concepts LLC Decreases Position in Stratasys, Ltd. $SSYS

Key Points

• Exchange Traded Concepts LLC has decreased its position in Stratasys, Ltd. by 10.7%, holding approximately $14.75 million after selling 153,962 shares in the second quarter.
• Stratasys recently reported an EPS of $0.03 and a revenue of $138.09 million for the quarter, slightly exceeding analyst estimates.
• The stock has received mixed analyst recommendations, with three analysts rating it as a "Buy" while Wall Street Zen downgraded it to a "Hold," setting a new average target price of $14.33.

Exchange Traded Concepts LLC lowered its holdings in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,286,071 shares of the technology company's stock after selling 153,962 shares during the period. Exchange Traded Concepts LLC owned 1.79% of Stratasys worth $14,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SSYS. Invenomic Capital Management LP grew its position in shares of Stratasys by 111.9% in the first quarter. Invenomic Capital Management LP now owns 2,466,198 shares of the technology company's stock valued at $24,144,000 after purchasing an additional 1,302,264 shares during the period. RPG Investment Advisory LLC grew its position in shares of Stratasys by 102.3% in the first quarter. RPG Investment Advisory LLC now owns 2,197,828 shares of the technology company's stock valued at $21,517,000 after purchasing an additional 1,111,491 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Stratasys by 84.7% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,130,983 shares of the technology company's stock valued at $20,862,000 after purchasing an additional 977,403 shares during the period. Nuveen LLC purchased a new stake in shares of Stratasys in the first quarter valued at $4,097,000. Finally, Royce & Associates LP grew its position in shares of Stratasys by 236.6% in the first quarter. Royce & Associates LP now owns 555,420 shares of the technology company's stock valued at $5,438,000 after purchasing an additional 390,420 shares during the period. Hedge funds and other institutional investors own 75.77% of the company's stock.

Stratasys Price Performance

SSYS stock traded down $0.16 during trading on Monday, reaching $10.37. 1,149,474 shares of the stock traded hands, compared to its average volume of 907,334. The business's 50 day moving average price is $10.56 and its 200-day moving average price is $10.35. Stratasys, Ltd. has a 52-week low of $6.92 and a 52-week high of $12.88. The firm has a market capitalization of $882.38 million, a PE ratio of -7.74 and a beta of 1.62.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. Stratasys had a negative return on equity of 1.06% and a negative net margin of 17.42%.The firm had revenue of $138.09 million during the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. Stratasys has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Stratasys, Ltd. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC lowered their price objective on Stratasys from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Wall Street Zen downgraded Stratasys from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Stratasys presently has a consensus rating of "Buy" and an average price target of $14.33.

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.