Markforged (NYSE:MKFG) Trading Up 4% – Here’s Why

Shares of Markforged Holding Co. (NYSE:MKFG) were up 4% during mid-day trading on Thursday . The company traded as high as $4.44 and last traded at $4.40. Approximately 127,260 shares traded hands 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MKFG. Lake Street Capital reiterated a “hold” rating on shares of Markforged in a research note on Thursday, September 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $5.00 price target (down from $8.50) on shares of Markforged in a research note on Thursday, September 26th.

Markforged Stock Performance

The firm’s fifty day moving average is $4.14 and its 200 day moving average is $3.96. The company has a market capitalization of $90.73 million, a P/E ratio of -1.01 and a beta of 1.52.

Institutional Investors Weigh In On Markforged

Several hedge funds have recently made changes to their positions in the company. 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 last quarter. Jacobs Levy Equity Management Inc. increased its stake in Markforged by 40.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after acquiring an additional 241,706 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Markforged by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock valued at $7,721,000 after acquiring an additional 237,967 shares during the period. Finally, Summit Partners L P boosted its holdings in Markforged by 0.9% during 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 period. 87.30% of the stock is currently owned by hedge funds and other institutional investors.

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.