In last trading session, Markforged Holding Corporation (NYSE:MKFG) saw 0.44 million shares changing hands with its beta currently measuring 1.53. Company’s recent per share price level of $0.89 trading at $0.1 or 12.16% at ring of the bell on the day assigns it a market valuation of $176.58M. That closing price of MKFG’s stock is at a discount of -158.43% from its 52-week high price of $2.30 and is indicating a premium of 30.34% from its 52-week low price of $0.62. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.62 million shares which gives us an average trading volume of 943.21K if we extend that period to 3-months.
For Markforged Holding Corporation (MKFG), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.33. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.07 in the current quarter.
Markforged Holding Corporation (NYSE:MKFG) trade information
Upright in the green during last session for gaining 12.16%, in the last five days MKFG remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $0.89 price level, adding 0.93% to its value on the day. Markforged Holding Corporation’s shares saw a change of -23.28% in year-to-date performance and have moved 11.77% in past 5-day. Markforged Holding Corporation (NYSE:MKFG) showed a performance of -17.59% in past 30-days. Number of shares sold short was 4.18 million shares which calculate 3.55 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $1.25 to the stock, which implies a rise of 28.8% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $1.50. It follows that stock’s current price would drop -68.54% in reaching the projected high whereas dropping to the targeted low would mean a loss of -12.36% for stock’s current value.
Markforged Holding Corporation (MKFG) estimates and forecasts
Statistics highlight that Markforged Holding Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -5.84% of value to its shares in past 6 months, showing an annual growth rate of 12.90% while that of industry is 8.50. Apart from that, the company came raising its revenue forecast for fiscal year 2023. This year revenue growth is estimated to fall -9.60% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $21.66 million for the same. And 3 analysts are in estimates of company making revenue of $20.78 million in the next quarter that will end on Mar 2024. Company posted $29.66 million and $24.09 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -27.00% while estimating it to be -13.70% for the next quarter.
Markforged Holding Corporation is more likely to be releasing its next quarterly report on November 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Markforged Holding Corporation (NYSE:MKFG)’s Major holders
Insiders are in possession of 8.99% of company’s total shares while institution are holding 67.28 percent of that, with stock having share float percentage of 73.92%. Investors also watch the number of corporate investors in a company very closely, which is 67.28% institutions for Markforged Holding Corporation that are currently holding shares of the company. ARK Investment Management, LLC is the top institutional holder at MKFG for having 20.21 million shares of worth $29.3 million. And as of Sep 29, 2023, it was holding 10.24% of the company’s outstanding shares.
The second largest institutional holder is Senvest Management LLC, which was holding about 17.49 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.86% of outstanding shares, having a total worth of $21.16 million.
On the other hand, ARK ETF Tr-ARK Autonomous Technology & Robotics ETF and Wasatch Microcap Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 11.84 million shares of worth $17.16 million or 6.00% of the total outstanding shares. The later fund manager was in possession of 5.55 million shares on Jun 29, 2023, making its stake of worth around $6.71 million in the company or a holder of 2.81% of company’s stock.