Stratasys Ltd. (NASDAQ:SSYS) Short Interest Down 20.9% in April

Stratasys Ltd. (NASDAQ:SSYS) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,210,000 shares, a decline of 20.9% from the March 31st total of 1,530,000 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 386,600 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On Stratasys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. raised its holdings 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. TSP Capital Management Group LLC grew its stake in Stratasys by 71.2% in the fourth quarter. TSP Capital Management Group LLC now owns 426,400 shares of the technology company’s stock worth $6,089,000 after purchasing an additional 177,350 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Stratasys in the third quarter worth $757,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Stratasys by 10.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,028,580 shares of the technology company’s stock worth $14,688,000 after purchasing an additional 100,000 shares during the period. Finally, Ardsley Advisory Partners LP purchased a new stake in Stratasys in the third quarter worth $1,361,000. Institutional investors own 75.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SSYS has been the subject of a number of recent research reports. StockNews.com initiated coverage on Stratasys in a research report on Saturday. They issued a “buy” rating for the company. Cantor Fitzgerald initiated coverage on Stratasys in a research report on Tuesday, February 13th. They issued an “overweight” rating and a $24.00 price objective for the company.

Stratasys Trading Down 3.0 %

SSYS stock traded down $0.30 during midday trading on Tuesday, hitting $9.72. The company had a trading volume of 418,707 shares, compared to its average volume of 403,467. Stratasys has a 52 week low of $9.43 and a 52 week high of $21.72. The stock’s 50 day moving average price is $11.30 and its 200 day moving average price is $11.99. The stock has a market cap of $677.10 million, a price-to-earnings ratio of -5.43 and a beta of 1.29.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $156.34 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Analysts predict that Stratasys will post -0.29 earnings per share for the current year.

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.