Senvest Management LLC recently announced the acquisition of new stake in Markforged Holding Corporation (NYSE:MKFG). The institutional investor has increased its shareholding in the Technology company by 0.15% to 17.52 million shares with purchase of 26260.0 shares. This fresh investment now brings its stake to 8.83% valued currently at $12.96 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.3 million to 4.61 million shares. And Neuberger Berman Investment Advis has lifted its position by 20.73% or 0.68 million shares – to 3.96 million shares.
With over 0.46 million Markforged Holding Corporation (MKFG) shares trading Friday and a closing price of $0.73 on the day, the dollar volume was approximately $0.34 million. The shares have shown a negative half year performance of -31.57% and its price on 12/22/23 gained nearly 1.45%. Currently, there are 194.56M common shares owned by the public and among those 112.28M shares have been available to trade.
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Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 3,883,903 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 443,632 shares.
The top 3 mutual fund holders in Markforged Holding Corporation are ARK Autonomous Technology & Robot, ARK 3D Printing ETF, and Wasatch Micro Cap Fund. ARK Autonomous Technology & Robot owns 11.76 million shares of the company’s stock, all valued at over $8.7 million. The company sold 31866.0 shares recently to bring their total holdings to about 5.93% of the shares outstanding. Wasatch Micro Cap Fund sold -1.19 million shares to bring its total holdings to over 4.36 million shares at a value of $3.23 million. Wasatch Micro Cap Fund now owns shares totaling to 2.20% of the shares outstanding.
Shares of Markforged Holding Corporation (NYSE: MKFG) opened at $0.715, up $0.01 from a prior closing price of $0.71. However, the script later moved the day high at 0.7350, up 1.45%. The company’s stock has a 5-day price change of 3.63% and -44.20% over the past three months. MKFG shares are trading -37.47% year to date (YTD), with the 12-month market performance down to -28.88% lower. It has a 12-month low price of $0.62 and touched a high of $2.30 over the same period. MKFG has an average intraday trading volume of 830.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.07%, -10.27%, and -32.44% respectively.
Institutional ownership of Markforged Holding Corporation (NYSE: MKFG) shares accounts for 39.53% of the company’s 194.56M shares outstanding. Mutual fund holders own 19.79%, while other institutional holders and individual stakeholders account for 44.41% and 19.74% respectively.
It has a market capitalization of $143.93M and a beta (3y monthly) value of 1.46. The earnings-per-share (ttm) stands at -$0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.12% over the week and 8.00% over the month.
Analysts forecast that Markforged Holding Corporation (MKFG) will achieve an EPS of -$0.07 for the current quarter, -$0.07 for the next quarter and -$0.22 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 11.60%, and 21.69% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Markforged Holding Corporation (MKFG) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MKFG, a number of firms have released research notes about the stock. Craig Hallum stated their Hold rating for the stock in a research note on October 25, 2023, with the firm’s price target at $2.50-$1.
