ARK Investment Management LLC grew its holdings in Desktop Metal, Inc. (NYSE:DM - Free Report) by 49.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 762,165 shares of the pipeline company's stock after buying an additional 251,156 shares during the period. ARK Investment Management LLC owned 2.31% of Desktop Metal worth $3,559,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Desktop Metal during the second quarter worth approximately $25,000. Levin Capital Strategies L.P. purchased a new position in shares of Desktop Metal during the 1st quarter worth $35,000. Empowered Funds LLC purchased a new position in shares of Desktop Metal during the 1st quarter worth $45,000. Point72 DIFC Ltd acquired a new position in shares of Desktop Metal during the 2nd quarter valued at about $68,000. Finally, Keating Investment Counselors Inc. purchased a new stake in shares of Desktop Metal in the first quarter valued at about $72,000. 56.31% of the stock is owned by hedge funds and other institutional investors.
Desktop Metal Trading Down 1.3 %
Shares of DM stock traded down $0.06 during trading on Friday, hitting $4.59. 246,062 shares of the stock traded hands, compared to its average volume of 411,182. Desktop Metal, Inc. has a 52-week low of $3.62 and a 52-week high of $11.80. The firm has a market capitalization of $153.04 million, a P/E ratio of -0.41 and a beta of 0.60. The firm's fifty day moving average price is $4.72 and its 200-day moving average price is $5.07. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.
Desktop Metal Profile
(
Free Report)
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.
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