Markforged Holding Co. (NYSE:MKFG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Markforged Holding Co. (NYSE:MKFGGet Rating) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.25.

Several research analysts have recently issued reports on the company. Citigroup reduced their price target on Markforged from $5.00 to $3.00 in a research report on Friday, May 13th. Berenberg Bank initiated coverage on Markforged in a report on Friday, June 10th. They set a “buy” rating for the company.

Institutional Trading of Markforged

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its stake in shares of Markforged by 7.8% during the 1st quarter. Swiss National Bank now owns 109,800 shares of the company’s stock valued at $438,000 after purchasing an additional 7,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Markforged by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 336,808 shares of the company’s stock worth $1,344,000 after buying an additional 8,244 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Markforged by 81.7% in the second quarter. Arizona State Retirement System now owns 22,817 shares of the company’s stock worth $42,000 after buying an additional 10,257 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Markforged in the first quarter worth approximately $42,000. Finally, State Street Corp raised its holdings in shares of Markforged by 1.6% during the first quarter. State Street Corp now owns 688,651 shares of the company’s stock valued at $2,748,000 after purchasing an additional 10,649 shares during the last quarter. Hedge funds and other institutional investors own 54.08% of the company’s stock.

Markforged Stock Performance

Shares of MKFG stock opened at $2.37 on Wednesday. The firm has a market capitalization of $445.39 million, a PE ratio of -29.63 and a beta of 1.45. The stock has a fifty day moving average of $2.15 and a two-hundred day moving average of $3.27. Markforged has a 1 year low of $1.72 and a 1 year high of $10.88.

Markforged (NYSE:MKFGGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Markforged had a negative return on equity of 31.45% and a net margin of 21.87%. The company had revenue of $21.86 million during the quarter, compared to the consensus estimate of $20.79 million. Equities research analysts predict that Markforged will post -0.28 earnings per share for the current fiscal year.

About Markforged

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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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Analyst Recommendations for Markforged (NYSE:MKFG)

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