Markforged (NYSE:MKFG) Receives “Neutral” Rating from Cantor Fitzgerald

Markforged (NYSE:MKFG)‘s stock had its “neutral” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Thursday, Benzinga reports. They currently have a $5.00 price target on the stock, down from their previous price target of $8.50. Cantor Fitzgerald’s price objective suggests a potential upside of 4.60% from the stock’s current price.

Separately, Lake Street Capital reissued a “hold” rating on shares of Markforged in a report on Thursday.

Markforged Trading Up 0.6 %

Shares of Markforged stock traded up $0.03 during midday trading on Thursday, reaching $4.78. The company had a trading volume of 506,573 shares, compared to its average volume of 81,199. The company has a market capitalization of $97.18 million, a price-to-earnings ratio of -7.84 and a beta of 1.46. The stock has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.56. Markforged has a 1-year low of $1.57 and a 1-year high of $14.70.

Markforged (NYSE:MKFG) last released its earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Markforged had a negative net margin of 134.02% and a negative return on equity of 33.53%. The firm had revenue of $21.69 million during the quarter, compared to analyst estimates of $21.76 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Sell-side analysts expect that Markforged will post -2.02 earnings per share for the current year.

Institutional Investors Weigh In On Markforged

Several institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its position in Markforged by 37.4% during the 1st quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock worth $439,000 after buying an additional 142,965 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Markforged by 40.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after buying an additional 241,706 shares in the last quarter. Divisar Capital Management LLC lifted its position in Markforged by 7.7% during the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after buying an additional 561,304 shares in the last quarter. Summit Partners L P lifted its position 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 buying an additional 136,364 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in Markforged by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock worth $7,721,000 after buying an additional 237,967 shares in the last quarter. 87.30% of the stock is owned by institutional investors.

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.