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.
View Our Latest Research Report on Desktop Metal
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
(
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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