Stratasys (NASDAQ:SSYS) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Stratasys, Ltd. (NASDAQ:SSYS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.09 and traded as high as $10.85. Stratasys shares last traded at $10.76, with a volume of 363,439 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of Stratasys from $12.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Wall Street Zen raised Stratasys from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, Needham & Company LLC increased their target price on Stratasys from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.20.

Stratasys Trading Up 3.9%

The stock's 50 day moving average price is $10.27 and its two-hundred day moving average price is $10.09. The firm has a market capitalization of $801.83 million, a price-to-earnings ratio of -7.45 and a beta of 1.52.

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

Hedge Funds Weigh In On Stratasys

Several hedge funds have recently added to or reduced their stakes in the business. 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 last quarter. 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 worth $21,517,000 after purchasing an additional 1,111,491 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Stratasys by 84.7% in 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 buying an additional 977,403 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in Stratasys during the 4th quarter valued at $5,376,000. Finally, Nuveen LLC purchased a new position in Stratasys during the first quarter worth $4,097,000. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

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.