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

Cantor Fitzgerald reissued their neutral rating on shares of Markforged (NYSE:MKFG) in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have a $5.00 price objective on the stock, down from their previous price objective of $8.50.

Separately, Lake Street Capital reiterated a hold rating on shares of Markforged in a report on Thursday.

Markforged Stock Performance

Shares of NYSE MKFG opened at $4.76 on Thursday. The firm’s 50 day moving average price is $0.71 and its 200 day moving average price is $0.61. The firm has a market cap of $958.50 million, a P/E ratio of -7.80 and a beta of 1.46. Markforged has a 1 year low of $1.57 and a 1 year high of $14.70.

Markforged (NYSE:MKFG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $21.69 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned ($0.07) earnings per share. As a group, equities analysts predict that Markforged will post -2.02 EPS for the current year.

Institutional Trading of Markforged

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC boosted its position in 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 period. Summit Partners L P lifted its stake in shares of Markforged by 0.9% during the second 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 in the last quarter. Divisar Capital Management LLC boosted its position in shares of Markforged by 7.7% in the second quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock worth $3,225,000 after buying an additional 561,304 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Markforged by 40.4% in the first 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 in the last quarter. Finally, GSA Capital Partners LLP raised 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 buying an additional 142,965 shares during the period. Institutional investors and hedge funds own 87.30% of the company’s stock.

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.