Markforged (NYSE:MKFG) Shares Scheduled to Reverse Split on Thursday, September 19th

Markforged Holding Co. (NYSE:MKFG)’s stock is scheduled to reverse split on Thursday, September 19th. The 1-10 reverse split was announced on Monday, September 9th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, September 18th.

Markforged Stock Performance

MKFG opened at $0.20 on Tuesday. Markforged has a one year low of $0.18 and a one year high of $1.47. The stock’s fifty day moving average is $0.31 and its 200-day moving average is $0.49. The company has a market capitalization of $40.74 million, a PE ratio of -0.33 and a beta of 1.46.

Markforged (NYSE:MKFG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $21.69 million for the quarter, compared to the consensus estimate of $21.76 million. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, equities research analysts forecast that Markforged will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Markforged

A number of institutional investors and hedge funds have recently modified their holdings of MKFG. Divisar Capital Management LLC raised its position in shares of Markforged by 7.7% during the second quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after purchasing an additional 561,304 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Markforged by 40.4% during 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. ARK Investment Management LLC raised its position in shares of Markforged by 1.3% during the second 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 period. GSA Capital Partners LLP raised its position in shares of Markforged by 37.4% during the first quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock worth $439,000 after purchasing an additional 142,965 shares during the period. Finally, Summit Partners L P raised its position in shares of 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 period. 87.30% of the stock is owned by institutional investors and hedge funds.

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.