Stratasys (NASDAQ:SSYS) Reaches New 52-Week Low at $9.92

Stratasys Ltd. (NASDAQ:SSYS) hit a new 52-week low during trading on Monday . The stock traded as low as $9.92 and last traded at $9.93, with a volume of 153333 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

SSYS has been the subject of several research analyst reports. Cantor Fitzgerald assumed coverage on Stratasys in a research note on Tuesday, February 13th. They set an “overweight” rating and a $24.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Stratasys in a report on Tuesday, December 26th. Finally, StockNews.com started coverage on Stratasys in a report on Thursday, April 11th. They set a “buy” rating for the company.

Stratasys Stock Up 2.9 %

The company has a fifty day simple moving average of $11.95 and a two-hundred day simple moving average of $12.15.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The company had revenue of $156.34 million for the quarter, compared to analyst estimates of $153.96 million. During the same quarter last year, the company posted ($0.03) EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Stratasys Ltd. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Hedge funds and other institutional investors have recently modified their holdings of the business. Douglas Lane & Associates LLC grew its position in Stratasys by 0.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock worth $15,649,000 after acquiring an additional 3,712 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Stratasys by 119.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 41,035 shares of the technology company’s stock valued at $586,000 after purchasing an additional 22,313 shares during the period. Legal & General Group Plc lifted its stake in shares of Stratasys by 18.5% in the 4th quarter. Legal & General Group Plc now owns 1,047,914 shares of the technology company’s stock valued at $14,964,000 after purchasing an additional 163,461 shares during the period. Barclays PLC lifted its stake in shares of Stratasys by 7.3% in the 4th quarter. Barclays PLC now owns 77,493 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 5,267 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Stratasys by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 546,783 shares of the technology company’s stock valued at $7,808,000 after purchasing an additional 3,488 shares during the period. 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.