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

Markforged (NYSE:MKFG)‘s stock had its “hold” rating reaffirmed by analysts at Lake Street Capital in a report issued on Thursday, Benzinga reports.

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

Markforged Trading Down 0.6 %

NYSE MKFG opened at $4.76 on Thursday. The business’s 50-day moving average price is $0.71 and its 200 day moving average price is $0.61. Markforged has a twelve month low of $1.57 and a twelve month high of $14.70. The company has a market capitalization of $96.77 million, a PE ratio of -7.80 and a beta of 1.46.

Markforged (NYSE:MKFG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $21.69 million during the quarter, compared to analyst estimates of $21.76 million. Markforged had a negative return on equity of 33.53% and a negative net margin of 134.02%. During the same period in the prior year, the firm posted ($0.07) earnings per share. Equities analysts predict that Markforged will post -2.02 EPS for the current year.

Hedge Funds Weigh In On Markforged

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP grew its holdings in shares of Markforged by 37.4% in 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 last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 acquiring an additional 241,706 shares during the last quarter. Divisar Capital Management LLC grew 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 acquiring an additional 561,304 shares during the last quarter. Summit Partners L P grew its holdings in shares of Markforged by 0.9% in 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 last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Markforged by 1.3% in 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 last quarter. 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.