Stratasys Ltd. (NASDAQ:SSYS) Short Interest Down 17.1% in October

Stratasys Ltd. (NASDAQ:SSYS) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,550,000 shares, a decline of 17.1% from the October 15th total of 1,870,000 shares. Based on an average daily trading volume, of 540,200 shares, the short-interest ratio is presently 2.9 days. Currently, 2.7% of the company’s shares are short sold.

Stratasys Price Performance

Shares of Stratasys stock traded down $0.35 on Friday, reaching $9.26. 756,420 shares of the company were exchanged, compared to its average volume of 506,009. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The stock’s 50 day moving average price is $7.56 and its 200-day moving average price is $8.21. The company has a market cap of $660.98 million, a P/E ratio of -7.17 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. Stratasys’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. On average, research analysts predict that Stratasys will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors have recently modified their holdings of SSYS. State Street Corp grew its position in Stratasys by 1.4% in the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock valued at $877,000 after buying an additional 1,500 shares during the last quarter. Barclays PLC raised its holdings in Stratasys by 1.9% during the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock worth $669,000 after purchasing an additional 1,525 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Stratasys by 4.0% in the first quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after purchasing an additional 1,850 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Stratasys by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after purchasing an additional 3,791 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after buying an additional 4,589 shares in the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald reduced their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Lake Street Capital dropped their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. StockNews.com assumed coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Loop Capital reduced their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

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.