Markforged (NYSE:MKFG) Rating Reiterated by Lake Street Capital

Markforged (NYSE:MKFG)‘s stock had its “hold” rating reiterated by Lake Street Capital in a research report issued on Thursday, Benzinga reports.

Separately, Cantor Fitzgerald lowered their price target on shares of Markforged from $1.30 to $0.85 and set an “overweight” rating for the company in a report on Friday, August 9th.

Markforged Trading Up 0.6 %

NYSE:MKFG traded up $0.03 during mid-day trading on Thursday, hitting $4.78. The company had a trading volume of 506,573 shares, compared to its average volume of 81,199. The business has a fifty day simple moving average of $0.53 and a 200-day simple moving average of $0.56. The firm has a market capitalization of $97.18 million, a price-to-earnings ratio of -7.82 and a beta of 1.46. Markforged has a 1 year low of $1.57 and a 1 year high of $14.70.

Markforged (NYSE:MKFG) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Markforged had a negative return on equity of 33.53% and a negative net margin of 134.02%. The firm had revenue of $21.69 million for the quarter, compared to analyst estimates of $21.76 million. During the same period in the previous year, the company posted ($0.07) EPS. As a group, research analysts anticipate that Markforged will post -2.02 earnings per share for the current year.

Institutional Trading of Markforged

A number of hedge funds have recently made changes to their positions in MKFG. Divisar Capital Management LLC increased its holdings in Markforged by 7.7% in the second quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock valued at $3,225,000 after buying an additional 561,304 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Markforged by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock valued at $7,721,000 after acquiring an additional 237,967 shares during the last quarter. Summit Partners L P lifted its stake in Markforged by 0.9% during the second 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. Jacobs Levy Equity Management Inc. boosted its holdings in 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 purchasing an additional 241,706 shares during the period. Finally, GSA Capital Partners LLP increased its stake 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 purchasing an additional 142,965 shares during the last quarter. Institutional investors and hedge funds 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.