Markforged Holding Co. (NYSE:MKFG) Sees Large Decline in Short Interest

Markforged Holding Co. (NYSE:MKFGGet Rating) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,200,000 shares, a drop of 25.4% from the May 15th total of 2,950,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is currently 1.7 days. Currently, 2.5% of the shares of the company are sold short.

NYSE MKFG traded up $0.14 on Friday, hitting $2.22. The stock had a trading volume of 138,099 shares, compared to its average volume of 1,607,667. Markforged has a 52-week low of $1.93 and a 52-week high of $11.00. The company has a market capitalization of $417.20 million, a price-to-earnings ratio of -28.50 and a beta of 0.94. The firm has a 50-day moving average of $2.96 and a 200-day moving average of $4.07.

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

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Markforged from $5.00 to $3.00 in a report on Friday, May 13th. Berenberg Bank initiated coverage on shares of Markforged in a research note on Friday, June 10th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.25.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Matrix IX Management CO. LLC purchased a new position in Markforged in the fourth quarter worth about $160,671,000. ARK Investment Management LLC raised its holdings in Markforged by 30.4% in the first quarter. ARK Investment Management LLC now owns 14,580,760 shares of the company’s stock worth $58,177,000 after buying an additional 3,398,481 shares during the last quarter. Vanguard Group Inc. raised its holdings in Markforged by 334.3% in the first quarter. Vanguard Group Inc. now owns 4,236,319 shares of the company’s stock worth $16,902,000 after buying an additional 3,260,928 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Markforged in the first quarter worth about $10,582,000. Finally, Wellington Management Group LLP purchased a new position in Markforged in the third quarter worth about $16,400,000. 54.08% of the stock is currently owned by hedge funds and other institutional investors.

About Markforged (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.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for Markforged Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markforged and related companies with MarketBeat.com's FREE daily email newsletter.