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

Markforged Holding Co. (NYSE:MKFG) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 296,900 shares, a drop of 88.4% from the August 31st total of 2,550,000 shares. Based on an average trading volume of 72,400 shares, the short-interest ratio is currently 4.1 days. Approximately 2.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Markforged

A number of hedge funds have recently made changes to their positions in MKFG. Divisar Capital Management LLC raised its holdings in Markforged by 7.7% during the 2nd quarter. Divisar Capital Management LLC now owns 7,864,892 shares of the company’s stock valued at $3,225,000 after buying an additional 561,304 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Markforged by 1.3% during 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 last quarter. Summit Partners L P boosted its holdings in shares of Markforged by 0.9% during the second quarter. Summit Partners L P now owns 14,731,565 shares of the company’s stock worth $6,040,000 after purchasing an additional 136,364 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Markforged by 40.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 839,962 shares of the company’s stock worth $702,000 after purchasing an additional 241,706 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Markforged by 37.4% during the 1st quarter. GSA Capital Partners LLP now owns 525,683 shares of the company’s stock valued at $439,000 after purchasing an additional 142,965 shares during the period. 87.30% of the stock is currently owned by institutional investors.

Markforged Price Performance

NYSE MKFG traded up $0.04 during trading on Thursday, reaching $4.79. The company’s stock had a trading volume of 765,911 shares, compared to its average volume of 82,658. The stock has a market capitalization of $97.38 million, a PE ratio of -7.85 and a beta of 1.46. The firm has a fifty day moving average of $0.62 and a 200 day moving average of $0.59. Markforged has a one year low of $1.57 and a one year high of $14.70.

Markforged (NYSE:MKFG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Markforged had a negative net margin of 134.02% and a negative return on equity of 33.53%. The firm had revenue of $21.69 million for the quarter, compared to analyst estimates of $21.76 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. Research analysts expect that Markforged will post -2.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MKFG has been the topic of a number of research analyst reports. Lake Street Capital restated a “hold” rating on shares of Markforged in a report on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 price target (down previously from $8.50) on shares of Markforged in a research note on Thursday.

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.