Markforged (NYSE:MKFG) Sees Unusually-High Trading Volume

Markforged Holding Co. (NYSE:MKFG) shares saw strong trading volume on Monday . 585,712 shares traded hands during mid-day trading, an increase of 1,169% from the previous session’s volume of 46,156 shares.The stock last traded at $2.51 and had previously closed at $1.91.

Wall Street Analysts Forecast Growth

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

Markforged Stock Performance

The business has a 50-day moving average of $0.36 and a 200-day moving average of $0.50. The stock has a market capitalization of $501.40 million, a price-to-earnings ratio of -3.36 and a beta of 1.46.

Markforged (NYSE:MKFG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $21.69 million during the quarter, compared to analysts’ expectations of $21.76 million. During the same period last year, the business earned ($0.07) earnings per share. Equities analysts predict that Markforged Holding Co. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position in Markforged by 37.4% in the 1st quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock valued at $439,000 after buying an additional 142,965 shares during the period. Jacobs Levy Equity Management Inc. raised its stake 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 acquiring an additional 241,706 shares in the last quarter. Divisar Capital Management LLC boosted its holdings in Markforged by 7.7% in the second quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock valued at $3,225,000 after purchasing an additional 561,304 shares during the period. Summit Partners L P grew its stake 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 purchasing an additional 136,364 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings 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 purchasing an additional 237,967 shares during the period. 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.