Stratasys (NASDAQ:SSYS) Sees Strong Trading Volume - Here's Why

Shares of Stratasys, Ltd. (NASDAQ:SSYS - Get Free Report) saw strong trading volume on Tuesday . 922,474 shares were traded during mid-day trading, an increase of 66% from the previous session's volume of 554,848 shares.The stock last traded at $11.88 and had previously closed at $10.97.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Stratasys from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.20.

Stratasys Stock Performance

The business's fifty day moving average price is $10.87 and its 200-day moving average price is $10.31. The stock has a market cap of $999.93 million, a PE ratio of -7.82 and a beta of 1.53.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Stratasys had a negative net margin of 19.02% and a negative return on equity of 1.86%. The firm had revenue of $136.05 million for the quarter, compared to the consensus estimate of $134.11 million. During the same quarter last year, the firm posted ($0.02) EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. Analysts forecast that Stratasys, Ltd. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently made changes to their positions in the business. Invenomic Capital Management LP raised its position in shares of Stratasys by 111.9% during the 1st 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 raised its position in shares of Stratasys by 102.3% during the 1st 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. raised its position in shares of Stratasys by 84.7% during the 1st 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. Penn Capital Management Company LLC bought a new stake in shares of Stratasys during the fourth quarter valued at approximately $5,376,000. Finally, Nuveen LLC bought a new stake in shares of Stratasys during the first quarter valued at approximately $4,097,000. Institutional investors own 75.77% of the company's stock.

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.

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