24/7 Market News Snapshot 13 November, 2024 – Stratasys Inc (ISRAEL) (NASDAQ:SSYS)

November 13, 2024

DENVER, Colo., 13 November, 2024 (247marketnews.com) – (NASDAQ:SSYS) are discussed in this article.
Stratasys Inc. (SSYS) opened trading today at $10.30, initially displaying investor enthusiasm, but has since seen a noteworthy decline, currently priced at $10.01, which marks a decrease of approximately 19.33% from its opening value. The previous closing price was notably lower at $8.39, highlighting ongoing stock volatility. High trading volumes at 1.27 million suggest significant investor interest amidst this turbulence. Monitoring support levels near the last close and resistance near the current opening price will be crucial for traders assessing short-term market momentum.

In addition to stock performance, Stratasys has recently announced its financial results for the third quarter of 2024, revealing a revenue figure of $140 million, which signifies a drop from the $162.1 million reported in the same quarter last year due to reduced customer capital expenditures. Nonetheless, the company has achieved marked improvements in operational efficiency, with the GAAP gross margin rising to 44.8% from 40.5%, and the non-GAAP gross margin increasing to 49.6% from 48.3%. The GAAP operating loss has also decreased to $25.5 million, a significant improvement compared to a loss of $42.8 million in the prior year.

Dr. Yoav Zeif, the company’s CEO, highlighted the impact of recent restructuring efforts, emphasizing a commitment to cost optimization and the pursuit of high-growth sectors such as aerospace and healthcare. Looking forward, Stratasys expects full-year revenues between $570 million to $580 million, with enhanced margins and profitability anticipated. The company aims to achieve $40 million in annual cost savings by the first quarter of next year, reinforcing its strategic positioning for recovery as market conditions evolve. Consequently, Stratasys is poised to leverage its robust balance sheet and consistent revenue streams to capitalize on growth opportunities within the additive manufacturing sector.

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