Markforged (NYSE:MKFG) Sees Strong Trading Volume – What’s Next?

Shares of Markforged Holding Co. (NYSE:MKFG) saw strong trading volume on Thursday . 342,277 shares traded hands during trading, an increase of 237% from the previous session’s volume of 101,632 shares.The stock last traded at $4.59 and had previously closed at $4.57.

Analyst Ratings Changes

MKFG has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $5.00 price target (down from $8.50) on shares of Markforged in a research note on Thursday, September 26th. Lake Street Capital restated a “hold” rating on shares of Markforged in a report on Thursday, September 26th.

Markforged Price Performance

The business has a 50 day moving average price of $3.31 and a 200 day moving average price of $4.25. The stock has a market capitalization of $920.24 million, a PE ratio of -7.51 and a beta of 1.52.

Markforged (NYSE:MKFG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.10. The company 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 prior year, the firm posted ($0.70) EPS. On average, equities analysts expect that Markforged Holding Co. will post -2.02 earnings per share for the current year.

Hedge Funds Weigh In On Markforged

A number of hedge funds have recently added to or reduced their stakes in the company. Divisar Capital Management LLC increased its holdings in shares of Markforged by 7.7% in the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after purchasing an additional 561,304 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Markforged by 40.4% in the 1st 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 during the last quarter. ARK Investment Management LLC lifted its stake in Markforged by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company’s stock valued at $7,721,000 after acquiring an additional 237,967 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Markforged by 37.4% during the 1st quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock valued at $439,000 after acquiring an additional 142,965 shares during the last quarter. Finally, Summit Partners L P grew its stake in shares of Markforged by 0.9% in 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. 87.30% of the stock is currently owned by hedge funds and other institutional investors.

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.