Desktop Metal (NYSE:DM - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.
Desktop Metal Stock Down 2.9 %
DM stock traded down $0.08 during midday trading on Friday, reaching $2.55. 89,565 shares of the company's stock traded hands, compared to its average volume of 297,580. The company has a market cap of $84.85 million, a price-to-earnings ratio of -0.23 and a beta of 0.64. The firm's fifty day moving average price is $2.81 and its 200-day moving average price is $3.93. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. Desktop Metal has a 52 week low of $2.02 and a 52 week high of $11.80.
Institutional Investors Weigh In On Desktop Metal
Institutional investors have recently added to or reduced their stakes in the business. Murchinson Ltd. bought a new stake in shares of Desktop Metal during the third quarter valued at about $972,000. ARK Investment Management LLC increased its position in shares of Desktop Metal by 49.1% during the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company's stock valued at $3,559,000 after buying an additional 251,156 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Desktop Metal during the second quarter valued at about $150,000. AQR Capital Management LLC increased its position in shares of Desktop Metal by 217.8% during the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company's stock valued at $244,000 after buying an additional 40,478 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of Desktop Metal during the third quarter valued at about $476,000. 56.31% of the stock is owned by hedge funds and other institutional investors.
Desktop Metal Company Profile
(
Get 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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