Desktop Metal (NYSE:DM) PT Raised to $12.50

Desktop Metal (NYSE:DM - Get Free Report) had its target price lifted by analysts at Cantor Fitzgerald from $1.25 to $12.50 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the pipeline company's stock. Cantor Fitzgerald's price objective points to a potential upside of 180.58% from the company's current price.

Separately, StockNews.com started coverage on Desktop Metal in a research report on Saturday, March 2nd. They set a "sell" rating on the stock.

Desktop Metal Stock Up 806.8 %

Shares of NYSE DM traded up $3.96 during mid-day trading on Tuesday, reaching $4.46. 622,579 shares of the company's stock were exchanged, compared to its average volume of 330,666. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -4.50 and a beta of 0.64. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $7.30 and a 200 day simple moving average of $6.95. Desktop Metal has a twelve month low of $4.45 and a twelve month high of $23.00.

Desktop Metal (NYSE:DM - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The pipeline company reported ($0.50) EPS for the quarter. The business had revenue of $40.60 million for the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. During the same quarter in the prior year, the company posted ($1.10) earnings per share. As a group, equities analysts expect that Desktop Metal will post -0.15 EPS for the current fiscal year.

Insider Activity at Desktop Metal

In related news, CFO Jason M. Cole sold 18,000 shares of Desktop Metal stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total value of $111,600.00. Following the sale, the chief financial officer now owns 87,168 shares of the company's stock, valued at approximately $540,441.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Levin Capital Strategies L.P. bought a new position in Desktop Metal in the first quarter valued at approximately $35,000. Principal Financial Group Inc. grew its stake in Desktop Metal by 39.2% in the third quarter. Principal Financial Group Inc. now owns 41,466 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 11,676 shares in the last quarter. Pathstone Family Office LLC bought a new position in Desktop Metal in the third quarter valued at approximately $63,000. Empowered Funds LLC bought a new position in Desktop Metal in the first quarter valued at approximately $45,000. Finally, Keating Investment Counselors Inc. bought a new position in Desktop Metal in the first quarter valued at approximately $72,000. 56.31% of the stock is currently owned by institutional investors.

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.