Connor Clark & Lunn Investment Management Ltd. Has $563,000 Stock Position in Stratasys Ltd. (NASDAQ:SSYS)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stratasys Ltd. (NASDAQ:SSYS) by 510.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,803 shares of the technology company’s stock after purchasing an additional 56,699 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Stratasys worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SSYS. RPG Investment Advisory LLC lifted its position in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after purchasing an additional 150,891 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after acquiring an additional 4,589 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after acquiring an additional 3,791 shares in the last quarter. Clearline Capital LP bought a new stake in Stratasys in the second quarter valued at about $9,301,000. Finally, Gabelli Funds LLC raised its position in Stratasys by 9.0% in the second quarter. Gabelli Funds LLC now owns 193,037 shares of the technology company’s stock worth $1,620,000 after purchasing an additional 16,000 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SSYS. Loop Capital decreased their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Lake Street Capital lowered their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. StockNews.com upgraded Stratasys from a “hold” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reduced their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Price Performance

SSYS stock opened at $9.62 on Friday. The business has a fifty day moving average price of $8.09 and a 200 day moving average price of $8.19. Stratasys Ltd. has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The stock has a market capitalization of $686.68 million, a price-to-earnings ratio of -7.29 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The company had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.49 million. During the same period last year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, equities analysts expect that Stratasys Ltd. will post -0.41 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.