Stratasys Ltd. (NASDAQ:SSYS) Short Interest Down 18.2% in March

Stratasys Ltd. (NASDAQ:SSYS) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,530,000 shares, a drop of 18.2% from the March 15th total of 1,870,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 366,600 shares, the short-interest ratio is currently 4.2 days.

Stratasys Price Performance

NASDAQ:SSYS opened at $10.09 on Monday. The business’s 50-day simple moving average is $12.09 and its two-hundred day simple moving average is $12.20. Stratasys has a 52 week low of $9.95 and a 52 week high of $21.72.

Stratasys (NASDAQ:SSYS) last issued its earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $156.34 million for the quarter, compared to analysts’ expectations of $153.96 million. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts expect that Stratasys will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SSYS. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Stratasys in a report on Tuesday, December 26th. StockNews.com began coverage on Stratasys in a report on Thursday. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald began coverage on Stratasys in a report on Tuesday, February 13th. They issued an “overweight” rating and a $24.00 target price on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSYS. Rubric Capital Management LP boosted its position in shares of Stratasys by 366.7% during the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after buying an additional 3,339,367 shares during the period. Norges Bank purchased a new position in shares of Stratasys during the fourth quarter valued at approximately $8,760,000. Point72 Asset Management L.P. bought a new stake in shares of Stratasys during the fourth quarter valued at approximately $6,355,000. Wellington Management Group LLP bought a new stake in shares of Stratasys during the first quarter valued at approximately $10,325,000. Finally, Pinnacle Associates Ltd. raised its stake in shares of Stratasys by 42.3% during the third quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock valued at $14,474,000 after acquiring an additional 315,868 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.