Analyst Downgrades: 3D Systems Corporation, Stratasys, Ltd., and Devon Energy Corp

Analysts downwardly revised their ratings and price targets on 3D Systems Corporation (NYSE:DDD), Stratasys, Ltd. (NASDAQ:SSYS), and Devon Energy Corp (NYSE:DVN)

by Karee Venema

Published on Jan 26, 2016 at 10:12 AM
Updated on Jan 26, 2016 at 10:34 AM

Analysts are weighing in on 3-D printing stocks 3D Systems Corporation (NYSE:DDD) and Stratasys, Ltd. (NASDAQ:SSYS), as well as oil-and-gas issue Devon Energy Corp (NYSE:DVN). Here's a quick roundup of today's bearish brokerage notes on DDD, SSYS, and DVN.

  • UBS slashed its price target on DDD by $3 to $6 -- matching the fresh five-year low the stock tagged last Wednesday. The negative analyst attention has sent 3D Systems Corporation down 2.9% to $6.78, and has widened its year-over-year deficit to 77%. Short sellers have been betting on more downside, too. In the most recent reporting period, short interest rose 1.5%, and now accounts for roughly 32% of DDD's available float.

  • Sector peer SSYS, meanwhile, was hit with a downgrade to "neutral" from "overweight" and price-target cut to $19 from $24 at J.P. Morgan Securities. The equity was also in UBS' crosshairs, with the brokerage firm lowering its target price to $16 from $18. Against this backdrop, the shares have slid 7.2% to $15.59 -- after earlier panning a new six-year low of $14.98. In the options pits, the stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.32 sits above all other comparable readings taken in the past year. In short, bullish bets have been more popular than normal in recent weeks. 

  • DVN was met with a price-target cut to $44 from $64 at Credit Suisse this morning. Stabilizing oil prices are helping to overshadow the bearish brokerage note, with shares of DVN up 3.2% at $23.50. Today's positive price action marks a change of pace for the stock, which has shed nearly 52% since its early November high of $48.68 -- and tagged a 16-year low of $16.26 last Wednesday. Option traders, meanwhile, have been buying to open puts over calls at a rapid-fire rate, per Devon Energy Corp's 50-day ISE/CBOE/PHLX put/call volume ratio of 1.26 -- in the 94th annual percentile.
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