Markforged (NYSE:MKFG) PT Lowered to $3.00

Markforged (NYSE:MKFGGet Rating) had its target price lowered by analysts at Citigroup from $5.00 to $3.00 in a research report issued on Friday, The Fly reports. Citigroup’s price objective points to a potential upside of 9.09% from the company’s previous close.

Separately, Zacks Investment Research cut Markforged from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $7.45.

NYSE:MKFG opened at $2.75 on Friday. Markforged has a one year low of $2.48 and a one year high of $11.00. The stock has a 50 day moving average price of $3.66 and a 200 day moving average price of $4.87.

Markforged (NYSE:MKFGGet Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $26.64 million during the quarter, compared to analyst estimates of $24.70 million. As a group, equities research analysts anticipate that Markforged will post -0.28 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Markforged by 164.3% during the fourth quarter. Bank of America Corp DE now owns 5,852 shares of the company’s stock worth $31,000 after acquiring an additional 3,638 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Markforged during the 4th quarter worth $34,000. Advisor Group Holdings Inc. purchased a new stake in shares of Markforged in the third quarter valued at $37,000. Empirical Asset Management LLC acquired a new position in Markforged in the first quarter valued at $42,000. Finally, Legal & General Group Plc purchased a new position in Markforged during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 54.08% of the company’s stock.

Markforged Company Profile (Get Rating)

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. The company offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. It serves customers in aerospace, military and defense, industrial automation, space exploration, healthcare, and automotive industries.

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