Stratasys (NASDAQ:SSYS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Stratasys has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's stock performance.
• The stock reported a 3.6% increase following earnings that surpassed analyst expectations, with a quarterly revenue of $136.05 million, though it marked a 5.6% year-over-year decline.
• Institutional investors own approximately 75.77% of Stratasys shares, reflecting strong interest and investment from larger financial entities.

Stratasys (NASDAQ:SSYS - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Stratasys Price Performance

NASDAQ:SSYS traded down $1.62 during mid-day trading on Friday, hitting $9.76. The company's stock had a trading volume of 1,796,947 shares, compared to its average volume of 524,533. The business's fifty day moving average is $10.97 and its two-hundred day moving average is $10.52. The stock has a market cap of $828.39 million, a price-to-earnings ratio of -6.52 and a beta of 1.57. Stratasys has a 1 year low of $6.05 and a 1 year high of $12.88.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The technology company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. The firm had revenue of $138.09 million during the quarter, compared to analysts' expectations of $137.15 million. Stratasys had a negative net margin of 19.02% and a negative return on equity of 1.86%. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. Analysts anticipate that Stratasys will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

A number of hedge funds have recently made changes to their positions in the stock. Formidable Asset Management LLC raised its stake in Stratasys by 4.1% during the 4th quarter. Formidable Asset Management LLC now owns 24,545 shares of the technology company's stock worth $218,000 after acquiring an additional 965 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Stratasys by 10.4% during the fourth quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock worth $148,000 after acquiring an additional 1,564 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Stratasys by 4.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,023 shares of the technology company's stock worth $608,000 after buying an additional 2,172 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Stratasys by 28.0% during the second quarter. Harbor Capital Advisors Inc. now owns 13,670 shares of the technology company's stock valued at $157,000 after buying an additional 2,991 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Stratasys by 12.1% during the fourth quarter. Point72 Asset Management L.P. now owns 28,371 shares of the technology company's stock worth $252,000 after purchasing an additional 3,071 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company's stock.

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.