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Markforged Holding Corporation (NYSE: MKFG) Is A Blank Check For Growth

Markforged Holding Corporation (NYSE:MKFG) shares, rose in value on Thursday, 08/04/22, with the stock price up by 5.69% to the previous day’s close as strong demand from buyers drove the stock to $2.60.

Actively observing the price movement in the last trading, the stock closed the session at $2.46, falling within a range of $2.44 and $2.62. The PE ratio was 10.32 over 12-month period. Referring to stock’s 52-week performance, its high was $10.59, and the low was $1.72. On the whole, MKFG has fluctuated by 43.65% over the past month.

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With the market capitalization of Markforged Holding Corporation currently standing at about $481.88 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 10, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.09, which is expected to increase to -$0.06 for fiscal year -$0.28 and then to about -$0.23 by fiscal year 2023. Data indicates that the EPS growth is expected to be 45.10% in 2023, while the next year’s EPS growth is forecast to be 17.90%.

Analysts have estimated the company’s revenue for the quarter at $22.46 million, with a low estimate of $21.5 million and a high estimate of $23.71 million. According to the average forecast, sales growth in current quarter could jump up 10.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $118.05 million, representing an increase of 29.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MKFG’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MKFG currently trading nearly 24.79% and 19.76% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.99, while the 7-day volatility ratio is showing 8.01% which for the 30-day chart, stands at 8.29%. Furthermore, Markforged Holding Corporation (MKFG)’s average true range (ATR) is 0.17.

Data on historical trading for Markforged Holding Corporation (NYSE:MKFG) indicates that the trading volumes over the past 10 days have averaged 0.72 million and over the past 3 months, they’ve averaged 1.58 million. According to company’s latest data on outstanding shares, there are 186.38 million shares outstanding.

Nearly 1.00% of Markforged Holding Corporation’s shares belong to company insiders and institutional investors own 82.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.32 million shares as on Jul 14, 2022, resulting in a short ratio of 2.01. According to the data, the short interest in Markforged Holding Corporation (MKFG) stood at 2.30% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.81 million. The stock has fallen by -51.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MKFG stock heading into the next quarter.

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