Markforged (NYSE:MKFG) Earns “Neutral” Rating from Cantor Fitzgerald

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

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

Markforged Stock Down 0.6 %

Shares of MKFG opened at $4.76 on Thursday. The company has a market cap of $96.77 million, a price-to-earnings ratio of -7.80 and a beta of 1.46. Markforged has a twelve month low of $1.57 and a twelve month high of $14.70. The company has a 50 day moving average of $0.71 and a two-hundred day moving average of $0.61.

Markforged (NYSE:MKFG) last announced its earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $21.69 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.07) earnings per share. On average, sell-side analysts expect that Markforged will post -2.02 EPS for the current year.

Institutional Investors Weigh In On Markforged

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings 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 last quarter. Jacobs Levy Equity Management Inc. increased 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 valued at $702,000 after buying an additional 241,706 shares in the last quarter. 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 in the last quarter. Summit Partners L P increased its stake 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 in the last quarter. Finally, ARK Investment Management LLC increased its stake 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 in the last quarter. 87.30% of the stock is currently owned by institutional investors and hedge funds.

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.