Markforged Holding Co. (NYSE:MKFG) Short Interest Down 88.4% in September

Markforged Holding Co. (NYSE:MKFG) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 296,900 shares, a decrease of 88.4% from the August 31st total of 2,550,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 72,400 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MKFG. GSA Capital Partners LLP increased its stake 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 worth $439,000 after acquiring an additional 142,965 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of 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 raised its stake in shares of 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 holdings 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 buying an additional 136,364 shares during the period. Finally, ARK Investment Management LLC boosted its stake 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 buying an additional 237,967 shares in the last quarter. 87.30% of the stock is currently owned by hedge funds and other institutional investors.

Markforged Stock Up 74.0 %

MKFG traded up $2.02 during trading on Wednesday, hitting $4.75. 4,484,360 shares of the stock were exchanged, compared to its average volume of 78,920. Markforged has a 1-year low of $1.57 and a 1-year high of $14.70. The stock has a fifty day moving average price of $0.53 and a two-hundred day moving average price of $0.56. The firm has a market capitalization of $96.57 million, a P/E ratio of -7.79 and a beta of 1.46.

Markforged (NYSE:MKFG) last announced its earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $21.69 million for the quarter, compared to analysts’ expectations of $21.76 million. Markforged had a negative net margin of 134.02% and a negative return on equity of 33.53%. During the same period in the previous year, the company posted ($0.07) EPS. Analysts predict that Markforged will post -2.02 EPS for the current year.

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.