Markforged (NYSE:MKFG) Price Target Cut to $1.30 by Analysts at Cantor Fitzgerald

Markforged (NYSE:MKFG) had its price objective lowered by research analysts at Cantor Fitzgerald from $1.45 to $1.30 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 121.39% from the company’s previous close.

Markforged Stock Down 3.8 %

Shares of MKFG traded down $0.02 during mid-day trading on Thursday, hitting $0.59. 174,149 shares of the company’s stock traded hands, compared to its average volume of 337,096. The firm has a market capitalization of $117.06 million, a P/E ratio of -1.13 and a beta of 1.60. The business’s 50-day moving average price is $0.70 and its 200-day moving average price is $0.72. Markforged has a 1 year low of $0.50 and a 1 year high of $2.30.

Markforged (NYSE:MKFG) last posted its earnings results on Thursday, March 7th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Markforged had a negative net margin of 110.43% and a negative return on equity of 25.97%. The firm had revenue of $24.17 million during the quarter, compared to analysts’ expectations of $20.95 million. During the same period last year, the company posted ($0.06) EPS. Sell-side analysts anticipate that Markforged will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Markforged

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Asset Management LLC boosted its position in shares of Markforged by 190.5% in the 4th quarter. Empirical Asset Management LLC now owns 30,500 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Markforged in the third quarter worth $27,000. Arete Wealth Advisors LLC purchased a new stake in shares of Markforged in the third quarter worth $40,000. Citigroup Inc. bought a new position in shares of Markforged during the third quarter valued at $59,000. Finally, GSA Capital Partners LLP raised its holdings in Markforged by 37.4% in the first quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock worth $439,000 after buying an additional 142,965 shares during the last quarter. Hedge funds and other institutional investors 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.