RPG Investment Advisory LLC Grows Position in Stratasys Ltd. (NASDAQ:SSYS)

RPG Investment Advisory LLC boosted its stake in shares of Stratasys Ltd. (NASDAQ:SSYS) by 29.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 659,996 shares of the technology company’s stock after purchasing an additional 150,891 shares during the period. RPG Investment Advisory LLC owned about 0.92% of Stratasys worth $5,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SSYS. Clearline Capital LP bought a new stake in Stratasys during the second quarter valued at about $9,301,000. Rubric Capital Management LP raised its holdings in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after acquiring an additional 918,703 shares during the period. State of Michigan Retirement System raised its holdings in Stratasys by 17.2% during the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after acquiring an additional 120,000 shares during the period. ARK Investment Management LLC raised its holdings in Stratasys by 22.2% during the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after acquiring an additional 116,912 shares during the period. Finally, Tidal Investments LLC bought a new stake in Stratasys during the first quarter valued at about $598,000. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SSYS has been the topic of several research reports. Cantor Fitzgerald reduced their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Lake Street Capital reduced their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. StockNews.com initiated coverage on Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Needham & Company LLC reduced their target price on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Loop Capital reduced their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Stratasys Stock Performance

SSYS opened at $8.39 on Wednesday. The stock has a market cap of $598.86 million, a price-to-earnings ratio of -5.15 and a beta of 1.21. The stock’s 50 day moving average price is $7.40 and its 200-day moving average price is $8.19. Stratasys Ltd. has a one year low of $6.05 and a one year high of $14.93.

Stratasys (NASDAQ:SSYS) last released its earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts predict that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Stratasys 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.