Markforged’s (MKFG) “Hold” Rating Reaffirmed at Lake Street Capital

Lake Street Capital reiterated their hold rating on shares of Markforged (NYSE:MKFG) in a report released on Thursday, Benzinga reports.

Separately, Cantor Fitzgerald cut 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 Up 0.8 %

Shares of MKFG opened at $4.79 on Thursday. The firm has a market cap of $97.38 million, a P/E ratio of -7.85 and a beta of 1.46. The company’s 50-day moving average price is $0.62 and its 200 day moving average price is $0.59. Markforged has a 12-month low of $1.57 and a 12-month high of $14.70.

Markforged (NYSE:MKFG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $21.69 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned ($0.07) EPS. Equities research analysts forecast that Markforged will post -2.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position 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 valued at $439,000 after purchasing an additional 142,965 shares during the period. Jacobs Levy Equity Management Inc. boosted 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 valued at $702,000 after buying an additional 241,706 shares during the last quarter. Divisar Capital Management LLC boosted its stake 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 acquiring an additional 561,304 shares during the last quarter. ARK Investment Management LLC raised its position 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 valued at $7,721,000 after acquiring an additional 237,967 shares during the period. Finally, Summit Partners L P grew its stake in Markforged by 0.9% in the second quarter. Summit Partners L P now owns 14,731,565 shares of the company’s stock valued at $6,040,000 after acquiring an additional 136,364 shares during the period. 87.30% of the stock is owned by 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.