Desktop Metal (NYSE:DM) Stock Price Passes Above 50 Day Moving Average - Should You Sell?

Desktop Metal, Inc. (NYSE:DM - Get Free Report)'s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.34 and traded as high as $2.49. Desktop Metal shares last traded at $2.21, with a volume of 256,895 shares.

Wall Street Analyst Weigh In

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

Desktop Metal Stock Performance

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 stock has a market cap of $150.37 million, a price-to-earnings ratio of -0.40 and a beta of 0.70. The stock's fifty day moving average is $2.34 and its 200-day moving average is $3.50.

Institutional Trading of Desktop Metal

Hedge funds have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its stake in Desktop Metal by 19.5% in the fourth quarter. Gabelli Funds LLC now owns 432,706 shares of the pipeline company's stock valued at $1,013,000 after acquiring an additional 70,758 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Desktop Metal by 2.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company's stock valued at $908,000 after purchasing an additional 8,665 shares during the period. Cigogne Management SA acquired a new position in shares of Desktop Metal in the 4th quarter valued at approximately $702,000. OMERS ADMINISTRATION Corp increased its stake 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 purchasing an additional 202,368 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in Desktop Metal during the 4th quarter worth approximately $585,000. Institutional investors and hedge funds own 56.31% of the company's stock.

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.