Invenomic Capital Management LP Increases Holdings in Stratasys, Ltd. $SSYS

Key Points

• Invenomic Capital Management LP increased its stake in Stratasys, Ltd. by 111.9%, owning a total of 2,466,198 shares after purchasing an additional 1,302,264 shares during the first quarter.
• Stratasys has received mixed ratings from analysts, with Wall Street Zen downgrading it from a "buy" to a "hold" rating, while Needham & Company LLC reduced its price target from $15.00 to $13.00.
• Stratasys reported earnings meeting expectations, with $0.03 earnings per share for the last quarter and revenue of $138.09 million, slightly above analyst estimates.

Invenomic Capital Management LP lifted its position in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 111.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,466,198 shares of the technology company's stock after purchasing an additional 1,302,264 shares during the period. Stratasys comprises 1.2% of Invenomic Capital Management LP's portfolio, making the stock its 19th largest holding. Invenomic Capital Management LP owned approximately 3.44% of Stratasys worth $24,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bosun Asset Management LLC purchased a new stake in shares of Stratasys in the first quarter worth $569,000. OLD Mission Capital LLC purchased a new stake in shares of Stratasys during the first quarter worth about $128,000. Trexquant Investment LP purchased a new stake in shares of Stratasys during the first quarter worth about $1,213,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Stratasys during the first quarter worth about $251,000. Finally, RPG Investment Advisory LLC grew its position in shares of Stratasys by 102.3% during the first quarter. RPG Investment Advisory LLC now owns 2,197,828 shares of the technology company's stock worth $21,517,000 after purchasing an additional 1,111,491 shares in the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SSYS. Needham & Company LLC cut their target price 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 cut Stratasys from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.33.

Stratasys Price Performance

Shares of SSYS traded down $0.23 during mid-day trading on Wednesday, reaching $9.90. 390,498 shares of the company's stock traded hands, compared to its average volume of 614,069. The stock has a market cap of $841.97 million, a P/E ratio of -7.39 and a beta of 1.62. The stock's 50-day moving average is $10.84 and its two-hundred day moving average is $10.38. Stratasys, Ltd. has a 12 month low of $6.28 and a 12 month high of $12.88.

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

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.