Desktop Metal (NYSE:DM) Stock Rating Upgraded by StockNews.com

Desktop Metal (NYSE:DM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Desktop Metal Stock Up 3.0 %

DM stock opened at $4.99 on Friday. The business has a 50 day moving average price of $2.53 and a two-hundred day moving average price of $3.51. Desktop Metal has a twelve month low of $1.84 and a twelve month high of $11.80. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. The company has a market cap of $166.20 million, a price-to-earnings ratio of -0.45 and a beta of 0.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DM. Murchinson Ltd. acquired a new stake in Desktop Metal during the third quarter worth approximately $972,000. Olympiad Research LP increased its holdings in shares of Desktop Metal by 99.6% during the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after acquiring an additional 101,419 shares in the last quarter. ABC Arbitrage SA acquired a new position in Desktop Metal during the fourth quarter worth $27,000. XTX Topco Ltd acquired a new stake in shares of Desktop Metal in the 3rd quarter worth about $214,000. Finally, Renaissance Technologies LLC raised its stake in shares of Desktop Metal by 65.5% in the fourth quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 19,900 shares during the last quarter. 56.31% of the stock is owned by institutional investors.

Desktop Metal Company Profile

Desktop Metal, Inc manufactures and sells additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Shop System, an entry-level metal 3D printing using binder jetting; X-series platform that provides binder jet 3D printing of specialty materials, including metals and ceramics, and tools; and P-Series offers high-speed metal 3D printing.