Markforged (NYSE:MKFG) Posts Earnings Results

Markforged (NYSE:MKFG) announced its earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Zacks reports. Markforged had a negative net margin of 110.43% and a negative return on equity of 24.49%. The firm had revenue of $24.17 million for the quarter, compared to analyst estimates of $20.95 million. During the same quarter in the prior year, the business posted ($0.06) EPS. Markforged updated its FY 2024 guidance to -0.220–0.190 EPS.

Markforged Trading Up 11.3 %

NYSE MKFG opened at $0.74 on Friday. The firm’s 50 day simple moving average is $0.70 and its 200 day simple moving average is $0.90. Markforged has a 1 year low of $0.61 and a 1 year high of $2.30.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $1.45 price target on shares of Markforged in a research report on Wednesday, February 28th.

Hedge Funds Weigh In On Markforged

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its stake in Markforged by 52.7% in the 1st quarter. Deutsche Bank AG now owns 69,364 shares of the company’s stock valued at $67,000 after purchasing an additional 23,925 shares during the last quarter. Credit Suisse AG raised its stake in shares of Markforged by 18.0% during the second quarter. Credit Suisse AG now owns 35,740 shares of the company’s stock valued at $66,000 after acquiring an additional 5,448 shares during the last quarter. DRW Securities LLC bought a new position in shares of Markforged during the second quarter valued at $61,000. Citigroup Inc. bought a new position in shares of Markforged during the third quarter valued at $59,000. Finally, State of Wyoming raised its stake in shares of Markforged by 47.7% during the second quarter. State of Wyoming now owns 46,571 shares of the company’s stock valued at $56,000 after acquiring an additional 15,037 shares during the last quarter. Institutional investors own 52.93% 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, industrial automation, space exploration, healthcare, and automotive industries.