Stratasys, Ltd. (SSYS) Stake Reduced by Renaissance Technologies LLC

Judith Bessette
Agosto 12, 2017

Over the past 2 quarters, Stratasys Ltd. (NASDAQ:SSYS) is up 6.71%, compared with a fall of almost -24.98% for 3 months and about -8.02% for the past 30 days. Stratasys's revenue was down 2.8% compared to the same quarter past year. BidaskClub cut Stratasys from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 2nd. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for Stratasys. Moreover, Gabelli Funds Ltd Liability has 0.01% invested in Stratasys, Ltd. (NASDAQ:SSYS). The technology company reported $0.17 EPS for the quarter, beating the Zacks' consensus estimate of $0.01 by $0.16. Also, the number of funds holding Stratasys Inc in their top 10 holdings was flat from 0 to 0 for the same number. The company had revenue of $163.20 million for the quarter, compared to analysts' expectations of $162.38 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business's revenue was down 1.2% on a year-over-year basis. This recent change was sent to investors in an analyst report today. Nordea Investment Management Ab acquired 20,282 shares as Valero Energy (VLO)'s stock declined 2.47%. Needham & Company LLC downgraded Stratasys from a "buy" rating to a "hold" rating in a report on Wednesday, May 17th.

Stratasys, Ltd. (NASDAQ:SSYS) has been given a $27.00 price target by investment analysts at Cowen and Company in a research report issued to clients and investors on Monday. Stratasys Ltd (NASDAQ:SSYS)'s price sits -11.21% off from its 50-day moving average of $24.16 and 1.56% far from the stock's 200-day moving average which is $23.34. William Blair lowered shares of Stratasys from a market perform rating to an underperform rating in a research note on Monday, May 15th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Their average price target spell out an upbeat performance - a 15% and would give SSYS a market capitalization of almost $1.34B. IFP Advisors Inc raised its stake in shares of Stratasys by 3.3% in the first quarter. The fund owned 247,561 shares of the technology company's stock after selling 55,329 shares during the period. Penserra Capital Management LLC increased its position in Stratasys by 75.0% in the first quarter.

As of quarter end Renaissance Technologies LLC had disposed of a total of 221,004 shares trimming its holdings by 46.3%. Tocqueville Asset Management L.P. boosted its stake in shares of Stratasys by 26.3% in the first quarter. On August 10 the stock rating was upgraded from " to "Buy" by Citigroup. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/08/09/renaissance-technologies-llc-has-9-79-million-stake-in-stratasys-ltd-ssys-updated-updated.html.

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Shares of Stratasys traded up about 5% at $23.50 in Wednesday's premarket session. The company had a trading volume of 208,376 shares. The shares have tacked on 29% year-over-year, with recent pullbacks contained by their 50-day moving average. Stratasys, Ltd. has a 1-year low of $16.37 and a 1-year high of $30.88. On July 13 analysts at Susquehanna began coverage with a rating of "Neutral".

The company offers entry-level desktop 3D printers to systems for rapid prototyping, and production systems for direct digital manufacturing.

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