Murchinson Ltd. Makes New $972,000 Investment in Desktop Metal, Inc. (NYSE:DM)

Murchinson Ltd. bought a new stake in Desktop Metal, Inc. (NYSE:DM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 208,100 shares of the pipeline company's stock, valued at approximately $972,000. Desktop Metal comprises approximately 0.3% of Murchinson Ltd.'s portfolio, making the stock its 27th largest position. Murchinson Ltd. owned about 0.62% of Desktop Metal as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DM. Price T Rowe Associates Inc. MD lifted its stake in shares of Desktop Metal by 66.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company's stock valued at $350,000 after acquiring an additional 158,872 shares during the last quarter. Cetera Advisors LLC purchased a new position in Desktop Metal during the 1st quarter valued at about $281,000. Summit Securities Group LLC purchased a new position in Desktop Metal during the 2nd quarter valued at about $258,000. Headlands Technologies LLC purchased a new position in Desktop Metal during the 2nd quarter valued at about $25,000. Finally, Point72 DIFC Ltd purchased a new position in Desktop Metal during the 2nd quarter valued at about $68,000. Institutional investors own 56.31% of the company's stock.

Desktop Metal Trading Down 2.7 %

NYSE:DM traded down $0.11 during mid-day trading on Wednesday, reaching $4.03. 259,215 shares of the company's stock traded hands, compared to its average volume of 404,210. Desktop Metal, Inc. has a 12-month low of $3.62 and a 12-month high of $11.80. The firm has a market capitalization of $134.36 million, a price-to-earnings ratio of -0.37 and a beta of 0.55. 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 company has a 50 day moving average price of $4.64 and a 200-day moving average price of $4.67.

Analyst Ratings Changes

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

Desktop Metal 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.