Stratasys (NASDAQ:SSYS) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Stratasys, Ltd. (NASDAQ:SSYS)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.42 and traded as high as $8.48. Stratasys shares last traded at $8.24, with a volume of 510,468 shares traded.

Wall Street Analyst Weigh In

SSYS has been the subject of several research analyst reports. Zacks Research lowered Stratasys from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stratasys in a research note on Tuesday, August 18th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.33.

Stratasys Stock Down 0.9%

The firm has a market cap of $687.64 million, a price-to-earnings ratio of -5.96 and a beta of 1.99. The company’s fifty day moving average is $8.19 and its 200 day moving average is $8.42.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, July 1st. The technology company reported $0.03 EPS for the quarter. The firm had revenue of $137.61 million for the quarter. Stratasys had a negative net margin of 21.05% and a negative return on equity of 1.77%. On average, equities research analysts forecast that Stratasys, Ltd. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new stake in Stratasys in the 1st quarter valued at about $11,107,000. Rubric Capital Management LP lifted its position in shares of Stratasys by 9.0% in the first quarter. Rubric Capital Management LP now owns 8,000,000 shares of the technology company’s stock valued at $62,480,000 after buying an additional 659,974 shares during the last quarter. State of Michigan Retirement System bought a new position in shares of Stratasys during the 1st quarter worth approximately $3,905,000. Tidal Investments LLC lifted its stake in shares of Stratasys by 116.7% during the 2nd quarter. Tidal Investments LLC now owns 128,353 shares of the technology company’s stock worth $1,099,000 after buying an additional 69,115 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Stratasys in the 2nd quarter valued at about $553,000. Institutional investors own 75.77% of the company’s stock.

About Stratasys

Stratasys Ltd. (NASDAQ: SSYS) is a manufacturer of polymer 3D printing systems and related production solutions. The company develops and sells additive manufacturing platforms, printing materials, software and services designed to support prototyping, tooling and the production of end-use parts.

Its product portfolio includes systems based on technologies such as fused deposition modeling, PolyJet, stereolithography, selective absorption fusion and other polymer additive manufacturing processes.