Markforged (NYSE:MKFG) Trading 2.9% Higher – Here’s Why

Markforged Holding Co. (NYSE:MKFG)’s share price rose 2.9% during mid-day trading on Thursday . The company traded as high as $2.83 and last traded at $2.81. Approximately 28,431 shares were traded during trading, a decline of 75% from the average daily volume of 113,403 shares. The stock had previously closed at $2.73.

Markforged Trading Up 7.3 %

The company has a market cap of $60.62 million, a PE ratio of -0.68 and a beta of 1.50. The stock has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $3.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Gabelli Funds LLC boosted its stake in shares of Markforged by 426.3% during the 4th quarter. Gabelli Funds LLC now owns 470,404 shares of the company’s stock worth $1,477,000 after acquiring an additional 381,030 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Markforged by 96.5% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 313,665 shares of the company’s stock valued at $985,000 after buying an additional 154,000 shares in the last quarter. Cigogne Management SA purchased a new position in Markforged during the 4th quarter valued at about $483,000. Credit Industriel ET Commercial purchased a new position in shares of Markforged during the 4th quarter worth approximately $344,000. Finally, Virtu Financial LLC acquired a new position in shares of Markforged during the 4th quarter worth approximately $116,000. Hedge funds and other institutional investors own 87.30% of the company’s stock.

About Markforged

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.