Exchange Traded Concepts LLC grew its stake in Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,440,033 shares of the technology company's stock after purchasing an additional 40,135 shares during the period. Exchange Traded Concepts LLC owned about 2.01% of Stratasys worth $14,098,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SSYS. Penn Capital Management Company LLC acquired a new position in shares of Stratasys in the 4th quarter valued at $5,376,000. RPG Investment Advisory LLC grew its position in Stratasys by 64.6% during the fourth quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company's stock valued at $9,658,000 after buying an additional 426,341 shares during the period. Formula Growth Ltd. increased its holdings in Stratasys by 58.3% in the fourth quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company's stock valued at $6,756,000 after buying an additional 280,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stratasys by 401.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 340,001 shares of the technology company's stock worth $3,023,000 after acquiring an additional 272,198 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Stratasys in the fourth quarter worth about $2,165,000. Institutional investors and hedge funds own 75.77% of the company's stock.
Stratasys Stock Performance
Shares of SSYS stock traded down $0.19 on Friday, reaching $10.20. 378,395 shares of the company were exchanged, compared to its average volume of 569,486. Stratasys Ltd. has a 1 year low of $6.05 and a 1 year high of $12.88. The business has a 50-day moving average price of $10.03 and a 200 day moving average price of $10.04. The company has a market cap of $731.50 million, a price-to-earnings ratio of -7.73 and a beta of 1.52.
Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $136.05 million during the quarter, compared to analyst estimates of $134.11 million. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. Stratasys's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. As a group, equities analysts anticipate that Stratasys Ltd. will post -0.4 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on SSYS shares. Cantor Fitzgerald raised their target price on Stratasys from $12.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Needham & Company LLC increased their price target on Stratasys from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Wall Street Zen upgraded Stratasys from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.20.
Read Our Latest Report on SSYS
Stratasys Company Profile
(
Free Report)
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.
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