Markforged (NYSE:MKFG) Rating Reiterated by Lake Street Capital

Lake Street Capital reaffirmed their hold rating on shares of Markforged (NYSE:MKFG) in a research note released on Thursday morning, MarketBeat Ratings reports.

Separately, Cantor Fitzgerald decreased their target price on Markforged from $1.30 to $0.85 and set an overweight rating on the stock in a research report on Friday, August 9th.

Markforged Trading Down 0.6 %

Shares of NYSE MKFG opened at $4.76 on Thursday. The company has a market capitalization of $958.50 million, a P/E ratio of -7.80 and a beta of 1.46. Markforged has a 12 month low of $1.57 and a 12 month high of $14.70. The stock has a 50 day moving average of $0.71 and a 200-day moving average of $0.61.

Markforged (NYSE:MKFG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) 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 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 in the previous year, the company earned ($0.07) earnings per share. Analysts predict that Markforged will post -2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Markforged

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Partners L P increased its stake 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. GSA Capital Partners LLP raised its stake in Markforged by 37.4% in 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 in the last quarter. ARK Investment Management LLC lifted its position in 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. Jacobs Levy Equity Management Inc. grew its stake in 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 buying an additional 241,706 shares in the last quarter. Finally, Divisar Capital Management LLC increased its holdings in Markforged by 7.7% in 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 period. 87.30% of the stock is currently 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.