Stratasys (NASDAQ:SSYS) Shares Down 6.1% on Analyst Downgrade

Key Points

• Stratasys stock fell by 6.1% after Needham & Company downgraded their price target from $15.00 to $13.00, although they maintain a buy rating.
• In a contrasting move, Wall Street Zen upgraded Stratasys from a "hold" to a "buy" rating, reflecting a consensus rating of "Moderate Buy" with an average target price of $12.20.
• Institutional investors own approximately 75.77% of Stratasys, with several hedge funds recently increasing their stakes in the company.

Stratasys, Ltd. (NASDAQ:SSYS - Get Free Report) traded down 6.1% during mid-day trading on Thursday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The stock traded as low as $9.38 and last traded at $9.40. 470,788 shares were traded during trading, a decline of 12% from the average session volume of 533,808 shares. The stock had previously closed at $10.01.

Separately, Needham & Company LLC decreased their price objective on Stratasys from $15.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Stratasys presently has an average rating of "Moderate Buy" and a consensus target price of $12.20.

Hedge Funds Weigh In On Stratasys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its stake in Stratasys by 18.3% in the 2nd quarter. Rubric Capital Management LP now owns 7,803,097 shares of the technology company's stock worth $89,502,000 after acquiring an additional 1,205,764 shares during the last quarter. Neuberger Berman Group LLC raised its stake in Stratasys by 2.4% in the 1st quarter. Neuberger Berman Group LLC now owns 4,592,824 shares of the technology company's stock worth $45,082,000 after acquiring an additional 109,331 shares during the last quarter. Phoenix Financial Ltd. raised its stake in Stratasys by 0.4% in the 1st quarter. Phoenix Financial Ltd. now owns 3,613,906 shares of the technology company's stock worth $35,381,000 after acquiring an additional 12,900 shares during the last quarter. Invenomic Capital Management LP raised its stake in Stratasys by 111.9% in the 1st quarter. Invenomic Capital Management LP now owns 2,466,198 shares of the technology company's stock worth $24,144,000 after acquiring an additional 1,302,264 shares during the last quarter. Finally, RPG Investment Advisory LLC raised its stake in Stratasys by 102.3% in the 1st quarter. RPG Investment Advisory LLC now owns 2,197,828 shares of the technology company's stock worth $21,517,000 after acquiring an additional 1,111,491 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company's stock.

Stratasys Stock Performance

The stock has a 50 day moving average of $10.89 and a 200-day moving average of $10.52. The company has a market cap of $889.92 million, a PE ratio of -7.82 and a beta of 1.57.

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