Desktop Metal, Inc. (NYSE:DM) Short Interest Up 8.8% in January

Desktop Metal, Inc. (NYSE:DM - Get Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,730,000 shares, an increase of 8.8% from the January 15th total of 2,510,000 shares. Based on an average daily volume of 311,800 shares, the short-interest ratio is presently 8.8 days. Currently, 14.9% of the shares of the company are sold short.

Desktop Metal Price Performance

Desktop Metal stock traded down $0.23 during midday trading on Friday, reaching $2.24. 379,077 shares of the stock were exchanged, compared to its average volume of 280,073. The company's fifty day moving average is $2.56 and its 200-day moving average is $3.81. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The firm has a market cap of $74.51 million, a PE ratio of -0.20 and a beta of 0.64. Desktop Metal has a 52 week low of $2.02 and a 52 week high of $11.80.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Desktop Metal from a "hold" rating to a "sell" rating in a research report on Friday, February 7th.

Institutional Trading of Desktop Metal

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC increased its holdings in Desktop Metal by 49.1% during the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company's stock worth $3,559,000 after acquiring an additional 251,156 shares during the period. Gabelli Funds LLC increased its holdings in Desktop Metal by 19.5% during the 4th quarter. Gabelli Funds LLC now owns 432,706 shares of the pipeline company's stock worth $1,013,000 after acquiring an additional 70,758 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Desktop Metal by 2.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company's stock worth $908,000 after acquiring an additional 8,665 shares during the period. Cigogne Management SA bought a new stake in Desktop Metal during the 4th quarter worth approximately $702,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in Desktop Metal by 247.7% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 284,068 shares of the pipeline company's stock worth $665,000 after acquiring an additional 202,368 shares during the period. Institutional investors own 56.31% of the company's stock.

About Desktop Metal

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.