Markforged Holding Co. (NYSE:MKFG) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Markforged Holding Co. (NYSE:MKFGGet Rating) have been assigned an average rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.25.

Several equities research analysts have weighed in on MKFG shares. Citigroup dropped their price target on shares of Markforged from $5.00 to $3.00 in a research report on Friday, May 13th. Zacks Investment Research cut shares of Markforged from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th.

Shares of Markforged stock traded down $0.06 during trading on Friday, reaching $2.57. The company’s stock had a trading volume of 2,959,808 shares, compared to its average volume of 1,180,601. Markforged has a 52-week low of $2.33 and a 52-week high of $11.00. The company has a market cap of $480.85 million, a price-to-earnings ratio of -32.13 and a beta of 0.89. The firm’s 50-day moving average is $3.48 and its two-hundred day moving average is $4.54.

Markforged (NYSE:MKFGGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Markforged had a net margin of 21.87% and a negative return on equity of 31.45%. The company had revenue of $21.86 million during the quarter, compared to analysts’ expectations of $20.79 million. As a group, analysts predict that Markforged will post -0.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Markforged in the 3rd quarter worth $6,643,000. Bamco Inc. NY bought a new position in Markforged in the 3rd quarter worth $17,592,000. Cubist Systematic Strategies LLC bought a new position in Markforged in the 3rd quarter worth $887,000. Atlantic Private Wealth LLC bought a new position in Markforged in the 4th quarter worth $1,414,000. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Markforged by 37.5% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 5,856,823 shares of the company’s stock worth $31,627,000 after acquiring an additional 1,596,527 shares in the last quarter. Institutional investors and hedge funds own 54.08% of the company’s stock.

Markforged Company Profile (Get Rating)

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. The company offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. It serves customers in aerospace, military and defense, industrial automation, space exploration, healthcare, and automotive industries.

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Analyst Recommendations for Markforged (NYSE:MKFG)

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