Stratasys Ltd. (SSYS) Shares Gap Down Following Analyst Downgrade
Stratasys Ltd. (NASDAQ:SSYS) gapped down before the market opened on Wednesday after Needham & Company lowered their price target on the stock from $24.00 to $21.00. The stock had previously closed at $17.54, but opened at $17.95. Needham & Company currently has a buy rating on the stock. Stratasys shares last traded at $18.26, with a volume of 1,544,680 shares.
A number of other equities research analysts have also recently commented on SSYS. Zacks Investment Research cut Stratasys from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 1st. Brean Capital restated a “hold” rating on shares of Stratasys in a research note on Monday, August 8th. Bank of America Corp. restated an “underperform” rating and issued a $23.00 price objective on shares of Stratasys in a research note on Thursday, August 25th. Vetr cut Stratasys from a “strong-buy” rating to a “buy” rating and set a $26.67 price objective on the stock. in a research note on Wednesday, September 28th. Finally, FBR & Co restated an “outperform” rating and issued a $29.00 price objective on shares of Stratasys in a research note on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Stratasys presently has a consensus rating of “Hold” and an average target price of $25.22.
A number of hedge funds and other institutional investors have recently modified their holdings of SSYS. Commonwealth Equity Services Inc boosted its position in shares of Stratasys by 28.5% in the second quarter. Commonwealth Equity Services Inc now owns 14,873 shares of the company’s stock worth $340,000 after buying an additional 3,303 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Stratasys during the second quarter worth approximately $164,000. Teachers Advisors Inc. boosted its position in shares of Stratasys by 7.3% in the first quarter. Teachers Advisors Inc. now owns 80,190 shares of the company’s stock worth $2,079,000 after buying an additional 5,474 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Stratasys during the second quarter worth approximately $201,000. Finally, Societe Generale acquired a new position in shares of Stratasys during the second quarter worth approximately $1,731,000. Institutional investors and hedge funds own 63.64% of the company’s stock.
The firm’s market cap is $938.86 million. The company’s 50-day moving average price is $20.84 and its 200 day moving average price is $21.50.
Stratasys, Inc is a manufacturer of three-dimensional (3D) printers and rapid prototyping (RP) systems for the office-based RP and direct digital manufacturing (DDM) markets. The Company develops, manufactures and sells a product line of 3D printers and DDM systems (and related consumable materials) that create physical models from computer-aided design (CAD) designs.
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