Markforged (NYSE:MKFG) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Markforged (NYSE:MKFG) in a report released on Thursday, Marketbeat reports. Cantor Fitzgerald currently has a $5.00 target price on the stock, down from their previous target price of $8.50.

Separately, Lake Street Capital reaffirmed a hold rating on shares of Markforged in a research report on Thursday.

Markforged Stock Down 0.6 %

Shares of MKFG opened at $4.76 on Thursday. The firm has a market cap of $958.50 million, a price-to-earnings ratio of -7.80 and a beta of 1.46. The business’s 50 day moving average is $0.71 and its two-hundred day moving average is $0.61. Markforged has a 52-week low of $1.57 and a 52-week high of $14.70.

Markforged (NYSE:MKFG) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $21.69 million for the quarter, compared to analysts’ expectations of $21.76 million. Markforged had a negative net margin of 134.02% and a negative return on equity of 33.53%. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities analysts expect that Markforged will post -2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Markforged

Several large investors have recently added to or reduced their stakes in the company. 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. Jacobs Levy Equity Management Inc. boosted its holdings 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 buying an additional 241,706 shares during the period. Divisar Capital Management LLC grew its position in shares of Markforged by 7.7% during the 2nd 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. Summit Partners L P raised 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 acquiring an additional 136,364 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in Markforged by 1.3% in the second quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock worth $7,721,000 after acquiring an additional 237,967 shares during the last quarter. 87.30% of the stock is currently owned by institutional investors.

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.