In the last trading session, 1.42 million shares of the Markforged Holding Corporation (NYSE:MKFG) were traded. Most recently the company’s share price was $2.21, and it changed around $0.01 or 0.45% from the last close, which brings the market valuation of the company to $392.67M. MKFG currently trades at a discount to its 52-week high of $11.00, offering almost -397.74% off that amount. The share price’s 52-week low was $1.93, which indicates that the current value has risen by an impressive 12.67% since then. We note from Markforged Holding Corporation’s average daily trading volume that its 3-month average coming to 1.34 million.
Markforged Holding Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended MKFG as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Markforged Holding Corporation is expected to report earnings per share of -$0.08 for the current quarter.
Markforged Holding Corporation (NYSE:MKFG) trade information
Instantly MKFG has showed a green trend with a performance of 0.45% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 2.31 on Tuesday, 06/21/22 increased the stock’s daily price by 4.33%. The company’s shares are currently down -58.85% year-to-date, but still up 11.06% over the last five days. On the other hand, Markforged Holding Corporation (NYSE:MKFG) is -21.91% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $4.42, which translates to bulls needing to increase their stock price by 50.0% from its current value. Analyst projections state that MKFG is forecast to be at a low of $3.00 and a high of $6.00. In order for the stock price to hit the forecast high, the stock would need to plunge -171.49% from its current level, while the stock would need to crash -35.75% from its current level to reach the projected low.
Markforged Holding Corporation (MKFG) estimates and forecasts
Markforged Holding Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -56.41 percent over the past six months and at a -1,066.67% annual growth rate that is well below the industry average of 18.50%. The year-over-year growth rate is expected to be 30.90%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $21.86 million in revenue for the current quarter. 5 analysts expect Markforged Holding Corporation to make $22.77 million in revenue for the quarter ending Jun 2022. Forecasts for the next quarter put sales growth at 11.50%.
Markforged Holding Corporation’s next quarterly earnings report is expected to be released on November 10.
Markforged Holding Corporation (NYSE:MKFG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 15.05% of Markforged Holding Corporation shares, and 69.74% of them are in the hands of institutional investors. The stock currently has a share float of 82.09%. Markforged Holding Corporation stock is held by 98 institutions, with Matrix IX Management Co. LLC being the largest institutional investor. By Mar 30, 2022, it held 15.92% of the shares, which is about 29.92 million shares worth $119.38 million.
ARK Investment Management, LLC, with 7.76% or 14.58 million shares worth $58.18 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
ARK ETF Tr-ARK Autonomous Technology & Robotics ETF and Wasatch Small Cap Growth Fund were the top two Mutual Funds as of Feb 27, 2022. The former held 10.78 million shares worth $41.92 million, making up 5.73% of all outstanding shares. On the other hand, Wasatch Small Cap Growth Fund held roughly 4.19 million shares worth around $16.71 million, which represents about 2.23% of the total shares outstanding.