Penn Capital Management Company LLC Sells 495,038 Shares of Stratasys, Ltd. $SSYS

Key Points

• Penn Capital Management Company LLC has significantly reduced its stake in Stratasys, Ltd. by 81.9%, now holding approximately 0.15% of the company, worth $1,074,000.
• Several other institutions have also made changes to their positions in Stratasys, with 75.77% of the company's stock owned by hedge funds and institutional investors.
• Stratasys recently reported earnings of $0.03 per share, meeting analysts' expectations, with revenue slightly up year-over-year at $138.09 million.

Penn Capital Management Company LLC lessened its holdings in shares of Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 81.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 109,684 shares of the technology company's stock after selling 495,038 shares during the quarter. Penn Capital Management Company LLC owned 0.15% of Stratasys worth $1,074,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Stratasys in the 1st quarter valued at about $105,000. Hsbc Holdings PLC raised its stake in shares of Stratasys by 10.4% in the 4th quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock valued at $148,000 after purchasing an additional 1,564 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Stratasys in the 4th quarter valued at about $166,000. Bayesian Capital Management LP acquired a new stake in shares of Stratasys in the 4th quarter valued at about $217,000. Finally, Formidable Asset Management LLC raised its stake in shares of Stratasys by 4.1% in the 4th quarter. Formidable Asset Management LLC now owns 24,545 shares of the technology company's stock valued at $218,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 75.77% of the company's stock.

Stratasys Stock Performance

Stratasys stock traded up $0.19 during midday trading on Thursday, reaching $11.23. 1,226,446 shares of the company's stock were exchanged, compared to its average volume of 612,404. Stratasys, Ltd. has a 52 week low of $6.05 and a 52 week high of $12.88. The firm has a market cap of $953.70 million, a price-to-earnings ratio of -8.38 and a beta of 1.57. The stock's 50-day simple moving average is $10.93 and its 200 day simple moving average is $10.48.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The technology company reported $0.03 EPS for the quarter, hitting 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 business had revenue of $138.09 million during the quarter, compared to analysts' expectations of $137.15 million. During the same quarter last year, the company posted ($0.04) earnings per share. Stratasys's quarterly revenue was up .1% on a year-over-year basis. Stratasys has set its FY 2025 guidance at EPS. Research analysts forecast that Stratasys, Ltd. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SSYS shares. Needham & Company LLC dropped their price target on Stratasys from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Wall Street Zen downgraded Stratasys from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.20.

About Stratasys

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.