Desktop Metal (NYSE:DM) Trading Down 3.2%

Desktop Metal, Inc. (NYSE:DMGet 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.

Desktop Metal (NYSE:DMGet Rating) last issued its earnings results on Wednesday, November 9th. The pipeline company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Desktop Metal had a negative net margin of 243.32% and a negative return on equity of 18.73%. The company had revenue of $47.09 million during the quarter, compared to analysts’ expectations of $64.60 million. On average, research analysts predict that Desktop Metal, Inc. will post -0.6 earnings per share for the current fiscal year.

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

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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.

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