Markforged (NYSE:MKFG) Sees Strong Trading Volume - Time to Buy?

Shares of Markforged Holding Co. (NYSE:MKFG - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 342,277 shares were traded during trading, an increase of 237% from the previous session's volume of 101,632 shares.The stock last traded at $4.59 and had previously closed at $4.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MKFG shares. Cantor Fitzgerald reaffirmed 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. Lake Street Capital reiterated a "hold" rating on shares of Markforged in a research note on Thursday, September 26th.

Markforged Stock Down 0.4 %

The business has a 50 day simple moving average of $3.31 and a 200 day simple moving average of $4.25. The company has a market capitalization of $916.21 million, a PE ratio of -7.49 and a beta of 1.52.

Markforged (NYSE:MKFG - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.50) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.10. Markforged had a negative return on equity of 33.53% and a negative net margin of 134.02%. The company had revenue of $21.69 million during the quarter, compared to analysts' expectations of $21.76 million. During the same period last year, the business posted ($0.70) earnings per share. Equities analysts expect that Markforged Holding Co. will post -2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Markforged

A number of institutional investors and hedge funds have recently modified their holdings of MKFG. GSA Capital Partners LLP lifted its holdings 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 worth $439,000 after purchasing an additional 142,965 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in 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 acquiring an additional 241,706 shares during the period. Divisar Capital Management LLC lifted its holdings 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 period. Summit Partners L P lifted its holdings 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. Finally, ARK Investment Management LLC lifted its holdings in Markforged by 1.3% in the second 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. Institutional investors and hedge funds own 87.30% of the company's stock.

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.