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

Shares of Markforged Holding Co. (NYSE:MKFG) saw unusually-high trading volume on Monday . Approximately 585,712 shares were traded during 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.

Analyst Upgrades and Downgrades

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

Markforged Trading Up 30.4 %

The firm has a market cap of $501.40 million, a price-to-earnings ratio of -3.36 and a beta of 1.46. The company has a fifty day moving average price of $0.36 and a 200-day moving average price of $0.50.

Markforged (NYSE:MKFG) last posted its earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $21.69 million during 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 business posted ($0.07) EPS. As a group, research analysts forecast that Markforged Holding Co. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Markforged

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Markforged by 37.4% in the first 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 last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Markforged by 40.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after purchasing an additional 241,706 shares in the last quarter. Divisar Capital Management LLC boosted its holdings 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 purchasing an additional 561,304 shares during the last quarter. Summit Partners L P boosted its holdings in shares of 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 during the last quarter. Finally, ARK Investment Management LLC grew its position 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 purchasing 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 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.