Desktop Metal, Inc. (NYSE:DM – Get Rating) shares fell 3.2% on Monday . The stock traded as low as $1.81 and last traded at $1.81. 1,388,692 shares were traded during trading, a decline of 57% from the average session volume of 3,254,492 shares. The stock had previously closed at $1.87.
Analyst Ratings Changes
Several brokerages have recently weighed in on DM. JPMorgan Chase & Co. began coverage on shares of Desktop Metal in a research note on Friday, December 16th. They set a “neutral” rating for the company. Credit Suisse Group decreased their target price on shares of Desktop Metal from $2.70 to $2.30 and set a “neutral” rating for the company in a research note on Thursday, November 10th. Benchmark cut their price target on shares of Desktop Metal to $5.00 in a report on Tuesday, November 15th. StockNews.com raised shares of Desktop Metal to a “sell” rating in a report on Friday, December 16th. Finally, Morgan Stanley started coverage on shares of Desktop Metal in a report on Friday, January 6th. They set an “equal weight” rating and a $1.75 price target for the company.
Desktop Metal Stock Performance
The company has a quick ratio of 2.86, a current ratio of 3.79 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $571.64 million, a PE ratio of -1.12 and a beta of 0.44. The stock’s fifty day simple moving average is $1.67 and its 200-day simple moving average is $2.35.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS increased its holdings in Desktop Metal by 114.1% in the fourth quarter. DNB Asset Management AS now owns 318,488 shares of the pipeline company’s stock valued at $433,000 after buying an additional 169,729 shares in the last quarter. Moody National Bank Trust Division raised its position in shares of Desktop Metal by 55.4% during the 4th quarter. Moody National Bank Trust Division now owns 22,391 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 7,983 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Desktop Metal by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 960,875 shares of the pipeline company’s stock valued at $2,489,000 after buying an additional 111,687 shares in the last quarter. Alphabet Inc. acquired a new stake in Desktop Metal during the 3rd quarter valued at $28,616,000. Finally, Balyasny Asset Management LLC increased its position in Desktop Metal by 240.5% during the third quarter. Balyasny Asset Management LLC now owns 111,250 shares of the pipeline company’s stock worth $288,000 after buying an additional 78,576 shares in the last quarter. 42.58% of the stock is owned by hedge funds and other institutional investors.
About Desktop Metal
Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.
- Get a free copy of the StockNews.com research report on Desktop Metal (DM)
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