Markforged (NYSE:MKFG) Given New $1.30 Price Target at Cantor Fitzgerald

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

Markforged Stock Down 3.8 %

MKFG stock traded down $0.02 during mid-day trading on Thursday, hitting $0.59. 174,149 shares of the company were exchanged, compared to its average volume of 337,096. The business has a fifty day simple moving average of $0.70 and a 200-day simple moving average of $0.72. Markforged has a 12-month low of $0.50 and a 12-month high of $2.30. The firm has a market capitalization of $117.06 million, a P/E ratio of -1.13 and a beta of 1.60.

Markforged (NYSE:MKFG) last posted its earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share for the quarter, beating 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 the consensus estimate of $20.95 million. During the same quarter last year, the firm earned ($0.06) EPS. Research analysts predict that Markforged will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Markforged

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Markforged during the 3rd quarter worth approximately $27,000. Empirical Asset Management LLC increased its position in shares of Markforged by 190.5% during the fourth quarter. Empirical Asset Management LLC now owns 30,500 shares of the company’s stock worth $25,000 after acquiring an additional 20,000 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Markforged during the third quarter worth $40,000. Citigroup Inc. acquired a new stake in Markforged in the 3rd quarter valued at about $59,000. Finally, GSA Capital Partners LLP lifted its stake 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 acquiring an additional 142,965 shares during the last quarter. 87.30% of the stock is currently 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.