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

Markforged Holding Co. (NYSE:MKFG) shares are going to reverse split before the market opens 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 market closes on Wednesday, September 18th.

Markforged Trading Up 3.5 %

Shares of NYSE MKFG opened at $0.20 on Tuesday. Markforged has a twelve month low of $0.18 and a twelve month high of $1.47. The company has a market capitalization of $40.74 million, a price-to-earnings ratio of -0.33 and a beta of 1.46. The business has a 50 day simple moving average of $0.31 and a 200-day simple moving average of $0.49.

Markforged (NYSE:MKFG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 business had revenue of $21.69 million during the quarter, compared to analyst estimates of $21.76 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, equities analysts predict that Markforged will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in Markforged by 37.4% during 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 period. Jacobs Levy Equity Management Inc. boosted its position in Markforged by 40.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after acquiring an additional 241,706 shares during the period. Divisar Capital Management LLC boosted its position in Markforged by 7.7% during the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after acquiring an additional 561,304 shares during the period. ARK Investment Management LLC boosted its position in Markforged by 1.3% during the 2nd 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 period. Finally, Summit Partners L P boosted its position in Markforged by 0.9% during the 2nd 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. Institutional investors and hedge funds 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.