Desktop Metal, Inc. (NYSE:DM - Get Free Report) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.05 and traded as low as $2.25. Desktop Metal shares last traded at $2.34, with a volume of 297,348 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Desktop Metal from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th.
Read Our Latest Stock Report on Desktop Metal
Desktop Metal Price Performance
The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The stock has a market capitalization of $78.02 million, a price-to-earnings ratio of -0.21 and a beta of 0.55. The stock's 50 day simple moving average is $4.00 and its 200-day simple moving average is $4.40.
Institutional Investors Weigh In On Desktop Metal
A number of large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its holdings in 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 acquiring an additional 251,156 shares during the period. Murchinson Ltd. bought a new position in Desktop Metal in the 3rd quarter worth approximately $972,000. Olympiad Research LP acquired a new position in shares of Desktop Metal during the third quarter worth approximately $476,000. Clearline Capital LP bought a new stake in shares of Desktop Metal in the second quarter valued at approximately $381,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Desktop Metal in the second quarter valued at approximately $229,000. Institutional investors own 56.31% of the company's stock.
About Desktop Metal
(
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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