Renaissance Technologies LLC Lowers Stock Position in Stratasys Ltd. (NASDAQ:SSYS)

Renaissance Technologies LLC lessened its stake in shares of Stratasys Ltd. (NASDAQ:SSYS) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 287,500 shares of the technology company’s stock after selling 7,800 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of Stratasys worth $2,412,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Stratasys during the 4th quarter worth approximately $6,706,000. Rubric Capital Management LP raised its holdings 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 worth $60,690,000 after purchasing an additional 3,339,367 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Stratasys by 9.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after purchasing an additional 140,841 shares during the last quarter. Gabelli Funds LLC lifted its position in Stratasys by 38.3% during the fourth quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock valued at $2,370,000 after purchasing an additional 45,957 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Stratasys by 87.2% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 104,104 shares of the technology company’s stock valued at $1,487,000 after purchasing an additional 48,504 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SSYS has been the topic of several recent research reports. Lake Street Capital lowered their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC decreased their price objective on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cantor Fitzgerald decreased their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They set a “hold” rating for the company. Finally, Craig Hallum lowered their target price on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Stratasys Trading Down 5.7 %

Shares of SSYS stock opened at $7.84 on Wednesday. Stratasys Ltd. has a twelve month low of $6.05 and a twelve month high of $14.93. The business’s 50 day moving average is $7.53 and its two-hundred day moving average is $8.87. The company has a market capitalization of $546.13 million, a P/E ratio of -4.28 and a beta of 1.18.

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

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.