Markforged Holding Co. (NYSE:MKFG – Get Free Report)’s share price shot up 10% during mid-day trading on Tuesday . The company traded as high as $2.83 and last traded at $2.74. 38,395 shares traded hands during trading, a decline of 22% from the average session volume of 48,926 shares. The stock had previously closed at $2.49.
Analyst Ratings Changes
Separately, Cantor Fitzgerald reduced their target price on shares of Markforged from $1.30 to $0.85 and set an “overweight” rating on the stock in a report on Friday, August 9th.
Read Our Latest Stock Analysis on MKFG
Markforged Stock Performance
Markforged (NYSE:MKFG – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $21.69 million during the quarter, compared to the consensus estimate of $21.76 million. Markforged had a negative return on equity of 33.53% and a negative net margin of 134.02%. During the same quarter last year, the business posted ($0.07) earnings per share. Research analysts predict that Markforged Holding Co. will post -0.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of MKFG. GSA Capital Partners LLP grew its holdings 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Markforged by 40.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after purchasing an additional 241,706 shares during the period. Divisar Capital Management LLC lifted its position in Markforged by 7.7% in the second quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after purchasing an additional 561,304 shares during the period. Summit Partners L P lifted its position in shares of Markforged by 0.9% during the 2nd quarter. Summit Partners L P now owns 14,731,565 shares of the company’s stock valued at $6,040,000 after acquiring an additional 136,364 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Markforged by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock valued at $7,721,000 after acquiring an additional 237,967 shares during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.
About Markforged
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.
Featured Stories
- Five stocks we like better than Markforged
- Top Stocks Investing in 5G Technology
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- What is the Dow Jones Industrial Average (DJIA)?
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- What is the Nikkei 225 index?
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Receive News & Ratings for Markforged Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markforged and related companies with MarketBeat.com's FREE daily email newsletter.