Markforged (NYSE:MKFG) Trading Up 4% – Should You Buy?

Markforged Holding Co. (NYSE:MKFG)’s stock price rose 4% during trading on Thursday . The company traded as high as $4.44 and last traded at $4.40. Approximately 127,260 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 103,645 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $5.00 target price (down from $8.50) on shares of Markforged in a research report on Thursday, September 26th. Lake Street Capital reaffirmed a “hold” rating on shares of Markforged in a research report on Thursday, September 26th.

Markforged Stock Performance

The stock has a 50 day moving average of $4.14 and a 200 day moving average of $3.96. The stock has a market capitalization of $90.73 million, a P/E ratio of -1.01 and a beta of 1.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MKFG. Jacobs Levy Equity Management Inc. grew its holdings in shares of Markforged by 40.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock valued at $702,000 after buying an additional 241,706 shares in the last quarter. Summit Partners L P grew its stake in shares of Markforged by 0.9% in the 2nd quarter. Summit Partners L P now owns 14,731,565 shares of the company’s stock valued at $6,040,000 after purchasing an additional 136,364 shares during the period. ARK Investment Management LLC grew its stake in Markforged by 1.3% during the second 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 during the last quarter. Finally, Divisar Capital Management LLC increased its position in Markforged by 7.7% in the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock valued at $3,225,000 after acquiring an additional 561,304 shares in the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

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.