Insider Buying: Markforged Holding Co. (NYSE:MKFG) CFO Purchases 50,000 Shares of Stock

Markforged Holding Co. (NYSE:MKFG – Get Rating) CFO Assaf Zipori purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were bought at an average price of $1.03 per share, with a total value of $51,500.00. Following the purchase, the chief financial officer now owns 368,996 shares in the company, valued at approximately $380,065.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Markforged Stock Down 1.8 %

Markforged stock traded down $0.02 during trading hours on Friday, hitting $0.89. The stock had a trading volume of 267,027 shares, compared to its average volume of 678,813. The company has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.14. The company has a market cap of $173.98 million, a PE ratio of -3.55 and a beta of 0.88. Markforged Holding Co. has a fifty-two week low of $0.71 and a fifty-two week high of $3.24.

Markforged (NYSE:MKFG – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $29.66 million during the quarter, compared to analysts’ expectations of $30.00 million. Markforged had a negative return on equity of 23.08% and a negative net margin of 47.14%. As a group, analysts forecast that Markforged Holding Co. will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Credit Suisse Group reissued a “neutral” rating and set a $1.70 price objective on shares of Markforged in a research report on Tuesday, March 7th.

Hedge Funds Weigh In On Markforged

A number of hedge funds have recently modified their holdings of MKFG. Vanguard Group Inc. raised its holdings in shares of Markforged by 334.3% in the 1st quarter. Vanguard Group Inc. now owns 4,236,319 shares of the company’s stock worth $16,902,000 after buying an additional 3,260,928 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in Markforged during the 1st quarter worth approximately $10,582,000. ARK Investment Management LLC grew its position in Markforged by 15.9% during the 1st quarter. ARK Investment Management LLC now owns 18,565,150 shares of the company’s stock worth $17,800,000 after acquiring an additional 2,550,256 shares during the last quarter. State Street Corp grew its position in Markforged by 370.3% during the 2nd quarter. State Street Corp now owns 3,238,881 shares of the company’s stock worth $5,992,000 after acquiring an additional 2,550,230 shares during the last quarter. Finally, Portolan Capital Management LLC bought a new stake in Markforged during the 4th quarter worth approximately $2,282,000. 73.19% of the stock is owned by institutional investors and hedge funds.

About Markforged

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Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. The company offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. It serves customers in aerospace, military and defense, industrial automation, space exploration, healthcare, and automotive industries.