Markforged Holding Corporation (NYSE:MKFG) saw a downside of -18.56% to close Monday at $1.58 after subtracting -$0.36 on the day. The 5-day average trading volume is 1,946,920 shares of the company’s common stock. It has gained $2.1400 in the past week and touched a new high 1 time within the past 5 days. An average of 2,832,140 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,940,372.
MKFG’s 1-month performance is 31.67% or $0.3800 on its low of $1.1300 reached on 07/24/23. The company’s shares have touched a 52-week low of $0.71 and high of $3.24, with the stock’s rally to the 52-week high happening on 07/28/23. YTD, MKFG has achieved 36.21% or $0.4200 and has reached a new high 10 times. However, the current price is down -51.23% from the 52-week high price.
Insider Transactions
MKFG stock investors last saw insider trading activity on May 24.Schwartz Mark Joseph (Chief Financial Officer) most recently sold 30,000 shares at $0.97 per share on Mar 14. This transaction cost the insider $29,100. Chief Financial Officer, Schwartz Mark Joseph, sold 28,641 shares at a price of $1.71 on Nov 15. Then, on Nov 14, Chief Financial Officer Schwartz Mark Joseph sold 51,359 shares at a price of $1.70 per share. This transaction amounted to $87,424.
Valuation Metrics
MKFG stock has a beta of 1.29. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.02 while the price-to-book (PB) in the most recent quarter is 1.30.
Markforged Holding Corporation’s quick ratio for the period ended March 30 was 4.70, with the current ratio over the same period at 5.40. In terms of profitability, the gross margin trailing 12 months is 49.10%. The firm’s gross profit as reported stood at $50.71 million against revenue of $100.96 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Markforged Holding Corporation’s cash and short-term investments amounted to $60.76 million against total debt of $47.37 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 122.29% to -$19.02 million, while revenue of -$10.73 million was 43.59% off the previous quarter. Analysts expected MKFG to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.06, representing a 25.00% surprise. EBITDA for the quarter stood at more than -$19.74 million. MKFG stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 89.83 million, with total debt at $47.37 million. Shareholders hold equity totaling $196.34 million.
Let’s look briefly at Markforged Holding Corporation (MKFG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 42.77% to suggest the stock is trending Neutral, with historical volatility in this time period at 132.31%.
The stock’s 5-day moving average is $1.9060, reflecting a -24.40% or -$0.5100 change from its current price. MKFG is currently trading +29.51% above its 20-day SMA, +62.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +58.79% and SMA200 by-18.13%.
Stochastic %K and %D was 59.36% and 68.40% and the average true range (ATR) pointed at 0.2264. The RSI (14) points at 49.36%, while the 14-day stochastic is at 38.53% with the period’s ATR at 0.2051. The stock’s 9-day MACD Oscillator is pointing at -0.1400 and 0.0248 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Markforged Holding Corporation (NYSE: MKFG), Credit Suisse launched coverage with a Neutral rating. Analysts offering their rating for MKFG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate MKFG as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is MKFG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.70 and a high of $3.00, with their median price target at $2.08. Looking at these predictions, the average price target given by analysts is for Markforged Holding Corporation (MKFG) stock is $2.21.
