Cantor Fitzgerald Reaffirms “Neutral” Rating for Markforged (NYSE:MKFG)

Cantor Fitzgerald reiterated their neutral rating on shares of Markforged (NYSE:MKFG) in a report published on Thursday morning, MarketBeat Ratings reports. They currently have a $5.00 price objective on the stock, down from their prior price objective 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. Markforged has a fifty-two week low of $1.57 and a fifty-two week high of $14.70. The firm’s 50 day moving average price is $0.71 and its 200 day moving average price is $0.61. The company has a market cap of $96.77 million, a P/E ratio of -7.80 and a beta of 1.46.

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

Hedge Funds Weigh In On Markforged

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its stake 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 worth $439,000 after purchasing an additional 142,965 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of 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 purchasing an additional 241,706 shares during the last quarter. Divisar Capital Management LLC boosted its stake in shares of 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 purchasing an additional 561,304 shares during the last quarter. Summit Partners L P boosted its stake in shares of 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 purchasing an additional 136,364 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of 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 purchasing an additional 237,967 shares during the last quarter. 87.30% of the stock is currently owned by hedge funds and other institutional investors.

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.