Markforged (NYSE:MKFG) Stock Price Up 10%

Markforged Holding Co. (NYSE:MKFG)’s stock price rose 10% during trading on Tuesday . The stock traded as high as $2.83 and last traded at $2.74. Approximately 38,395 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 48,926 shares. The stock had previously closed at $2.49.

Analysts Set New Price Targets

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

Markforged Stock Performance

The company has a market cap of $533.62 million, a P/E ratio of -4.49 and a beta of 1.46. The firm’s fifty day moving average is $0.40 and its two-hundred day moving average is $0.51.

Markforged (NYSE:MKFG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $21.76 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, equities research analysts expect that Markforged Holding Co. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in Markforged by 37.4% during 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 period. Jacobs Levy Equity Management Inc. raised its position 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 worth $702,000 after acquiring an additional 241,706 shares during the period. Divisar Capital Management LLC raised 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 during the period. Summit Partners L P raised its position 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 raised its position 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. Institutional investors 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.