Markforged Holding Co. (NYSE:MKFG) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Markforged Holding Co. (NYSE:MKFG) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,665,317 shares of the company’s stock after selling 241,277 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 3.31% of Markforged worth $2,733,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Summit Partners L P increased its stake 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 purchasing an additional 136,364 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Markforged by 40.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock valued at $702,000 after acquiring an additional 241,706 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Markforged by 37.4% in the 1st quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock worth $439,000 after acquiring an additional 142,965 shares during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

Markforged Stock Up 5.6 %

NYSE:MKFG opened at $0.27 on Thursday. The firm has a market capitalization of $54.85 million, a P/E ratio of -0.45 and a beta of 1.48. The company’s fifty day moving average price is $0.39 and its 200-day moving average price is $0.54. Markforged Holding Co. has a 1-year low of $0.23 and a 1-year high of $1.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.64 and a quick ratio of 2.24.

Markforged (NYSE:MKFG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $21.69 million for the quarter, compared to the consensus estimate of $21.76 million. Markforged had a negative return on equity of 29.55% and a negative net margin of 133.52%. During the same period last year, the firm earned ($0.07) EPS. As a group, equities research analysts anticipate that Markforged Holding Co. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

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

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.