Desktop Metal, Inc. (NYSE:DM) Sees Significant Decline in Short Interest

Desktop Metal, Inc. (NYSE:DM - Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,440,000 shares, a drop of 12.2% from the November 15th total of 2,780,000 shares. Currently, 13.0% of the shares of the company are sold short. Based on an average trading volume of 246,400 shares, the days-to-cover ratio is presently 9.9 days.

Analyst Ratings Changes

Separately, StockNews.com raised Desktop Metal from a "sell" rating to a "hold" rating in a report on Thursday.

Hedge Funds Weigh In On Desktop Metal

A number of hedge funds have recently bought and sold shares of DM. Headlands Technologies LLC bought a new position in Desktop Metal in the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd bought a new position in shares of Desktop Metal during the second quarter valued at about $68,000. Cubist Systematic Strategies LLC purchased a new stake in Desktop Metal in the 2nd quarter worth approximately $150,000. Susquehanna Fundamental Investments LLC bought a new position in Desktop Metal in the second quarter worth about $208,000. Finally, XTX Topco Ltd purchased a new stake in Desktop Metal in the third quarter worth $214,000. 56.31% of the stock is owned by hedge funds and other institutional investors.

Desktop Metal Stock Down 0.8 %

Shares of NYSE DM traded down $0.03 during trading on Friday, hitting $3.73. 183,418 shares of the company traded hands, compared to its average volume of 222,498. The firm has a market capitalization of $124.36 million, a price-to-earnings ratio of -0.33 and a beta of 0.55. Desktop Metal has a fifty-two week low of $3.62 and a fifty-two week high of $11.80. The business's fifty day moving average is $4.50 and its 200 day moving average is $4.56. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34.

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.

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