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)

Karee Venema

Jan 26, 2016 at 10:12 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.

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Follow @Schaeffers

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?