Markforged (NYSE:MKFG) Sees Strong Trading Volume

Markforged Holding Co. (NYSE:MKFG) saw unusually-high trading volume on Monday . Approximately 63,016 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 84,395 shares.The stock last traded at $4.78 and had previously closed at $4.76.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $5.00 target price (down previously from $8.50) on shares of Markforged in a research report on Thursday. Lake Street Capital reissued a “hold” rating on shares of Markforged in a research report on Thursday.

Markforged Trading Down 2.9 %

The firm has a market cap of $930.31 million, a PE ratio of -7.80 and a beta of 1.46. The company has a 50 day moving average price of $0.71 and a 200 day moving average price of $0.61.

Markforged (NYSE:MKFG) last posted its earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $21.69 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned ($0.07) earnings per share. As a group, equities research analysts anticipate that Markforged Holding Co. will post -2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Markforged

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its stake 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 worth $7,721,000 after purchasing an additional 237,967 shares during the last quarter. Summit Partners L P raised its holdings in 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 acquiring an additional 136,364 shares during the last quarter. Divisar Capital Management LLC increased its position in shares of 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 acquiring an additional 561,304 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings 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 valued at $702,000 after acquiring an additional 241,706 shares in the last quarter. Finally, GSA Capital Partners LLP boosted 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 purchasing an additional 142,965 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.