Markforged (NYSE:MKFG) Sees Unusually-High Trading Volume - What's Next?

Markforged Holding Co. (NYSE:MKFG - Get Free Report) shares saw an uptick in trading volume on Monday . 317,074 shares traded hands during mid-day trading, an increase of 248% from the previous session's volume of 91,171 shares.The stock last traded at $4.73 and had previously closed at $4.74.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MKFG shares. Lake Street Capital reissued a "hold" rating on shares of Markforged in a report on Thursday, September 26th. Cantor Fitzgerald restated a "neutral" rating and set a $5.00 price objective (down previously from $8.50) on shares of Markforged in a research report on Thursday, September 26th.

Markforged Trading Down 1.5 %

The stock has a market capitalization of $940.37 million, a PE ratio of -7.77 and a beta of 1.52. The company's 50 day simple moving average is $1.14 and its 200 day simple moving average is $0.75.

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

Institutional Trading of Markforged

A number of institutional investors have recently added to or reduced their stakes in MKFG. GSA Capital Partners LLP boosted its stake in shares of Markforged by 37.4% in 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. grew its stake in Markforged by 40.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company's stock valued at $702,000 after purchasing an additional 241,706 shares in 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 valued at $6,040,000 after buying an additional 136,364 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Markforged by 1.3% during the second quarter. ARK Investment Management LLC now owns 18,832,300 shares of the company's stock worth $7,721,000 after buying an additional 237,967 shares in the last quarter. Finally, Divisar Capital Management LLC increased its stake 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 last quarter. 87.30% of the stock is 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.

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