The stock of Stratasys Ltd. (NASDAQ:SSYS) is now priced at $13.97 and the shares are 0.3 points up or 2.19% higher compared to its previous closing price of $13.67. The stock had 1.219 million contracts set over the past session. SSYS shares’ daily volume is compared to its average trading volume at 1.005 million shares. However, it has a float of 51.21 million and although its performance was -1.06% over the week, it’s one to watch. Analysts have given the SSYS stock a yearly average price target of $16.75 per share. It means the stock’s upside potential is 19.9% with the SSYS share price recently placing at $13.68 to $14.155. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are climbing into the Stratasys Ltd. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SSYS shares have risen. Short interest in the stock represents just 20.93% of its float, but the volume has raised by 18733. The volume of shorted shares rised to 10.735 million from 10.717 million shares over the last two weeks. The average intraday trading volume has been 790733 shares, which means that days to cover moved to roughly 13.57635.
In the last trading session, Stratasys Ltd. (NASDAQ:SSYS) dropped by -$0.15 over the week and lost -$1.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25.52. The stock recorded its established 52-week high on 09/11/19.
Since 03/12/20, the stock has traded to a low of $12.18 at 14.7%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.56. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Stratasys Ltd.’s two-week RSI is 37.22. This suggests that the stock is neutral at the moment and that SSYS shares’ price movement remains stable. The stochastic readings are equally revealing at 8.84% meaning the SSYS share price is currently in overbought territory.
The technical chart shows that the SSYS stock will likely settle at between $14.19 and $14.41 per share. However, if the stock dips below $13.72, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.46.
Currently, the stock is trading in the red of MACD, with a reading of -0.47. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan raised their recommendation for SSYS from Neutral to Overweight in June 02 review. JP Morgan analysts upgraded their recommendation of the stock from Underweight to Neutral while keeping its target price at $16 to $19 in a flash note released to investors on May 21. Piper Jaffray seeing the improvements upgraded the stock from Neutral to Overweight on January 29.
The average rating for the SSYS equity is 3.29 and is currently gathering a bearish momentum. Of 7 analysts tracking Stratasys Ltd. polled by Reuters, 4 rated SSYS as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SSYS stock price is 76.34X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 15.4. Stratasys Ltd. has its P/E ratio at 0.7, which means that the stock is currently trading at a discount relative to the 3.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Stratasys Ltd. (NASDAQ:SSYS) will decrease by about -99.9%, which will see them reach $121 million. The company’s full-year revenues are, however, expected to diminish by about -20.97%, down from $636 million to $503 million. SSYS’s expected adjusted earnings should drop almost -150% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -164.29% to record -$0.36/share.