Markforged Holding Co. (NYSE:MKFG) Forecasted to Post Q3 2024 Earnings of ($0.06) Per Share

Markforged Holding Co. (NYSE:MKFG) – Research analysts at William Blair lowered their Q3 2024 earnings estimates for shares of Markforged in a report released on Wednesday, August 21st. William Blair analyst B. Drab now anticipates that the company will post earnings per share of ($0.06) for the quarter, down from their previous forecast of ($0.04). The consensus estimate for Markforged’s current full-year earnings is ($0.20) per share. William Blair also issued estimates for Markforged’s FY2024 earnings at ($0.21) EPS and FY2025 earnings at ($0.09) EPS.

Separately, Cantor Fitzgerald reduced their price objective on shares of Markforged from $1.30 to $0.85 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

Markforged Stock Down 2.8 %

Shares of MKFG opened at $0.26 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.24 and a current ratio of 2.64. Markforged has a 52 week low of $0.23 and a 52 week high of $1.47. The stock has a market capitalization of $52.29 million, a price-to-earnings ratio of -0.43 and a beta of 1.48. The stock has a fifty day moving average of $0.37 and a 200-day moving average of $0.53.

Markforged (NYSE:MKFG) last issued its earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Markforged had a negative return on equity of 29.55% and a negative net margin of 133.52%. The firm had revenue of $21.69 million during the quarter, compared to the consensus estimate of $21.76 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share.

Hedge Funds Weigh In On Markforged

Institutional investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its holdings in shares of Markforged by 1.3% in the second quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock valued at $7,721,000 after purchasing an additional 237,967 shares in the last quarter. Summit Partners L P boosted its holdings in Markforged by 0.9% during the 2nd quarter. Summit Partners L P now owns 14,731,565 shares of the company’s stock worth $6,040,000 after acquiring an additional 136,364 shares during the last quarter. Divisar Capital Management LLC grew its stake in shares of Markforged by 7.7% in the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after acquiring an additional 561,304 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Markforged by 40.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock valued at $702,000 after purchasing an additional 241,706 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Markforged by 37.4% during the first quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock valued at $439,000 after purchasing an additional 142,965 shares in the last quarter. 87.30% of the stock is owned by institutional investors and hedge funds.

Markforged Company Profile

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. It offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. The company serves customers in aerospace, military and defense, food and beverage, industrial automation, space exploration, healthcare, and automotive industries.