Desktop Metal (NYSE:DM) Shares Gap Up to $4.91

Desktop Metal, Inc. (NYSE:DM - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.91, but opened at $5.25. Desktop Metal shares last traded at $4.84, with a volume of 38,798 shares trading hands.

Wall Street Analyst Weigh In

DM has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their price objective on shares of Desktop Metal from $1.25 to $12.50 and gave the stock an "overweight" rating in a report on Tuesday. StockNews.com assumed coverage on Desktop Metal in a report on Saturday, March 2nd. They issued a "sell" rating on the stock.

Desktop Metal Stock Up 806.8 %

The company has a quick ratio of 1.64, a current ratio of 2.83 and a debt-to-equity ratio of 0.57. The firm's fifty day simple moving average is $7.30 and its 200-day simple moving average is $6.95. The company has a market cap of $1.47 billion, a PE ratio of -4.50 and a beta of 0.64.

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

Insider Buying and Selling

In related news, CFO Jason M. Cole sold 18,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 87,168 shares in the company, valued at $540,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Desktop Metal

Several institutional investors and hedge funds have recently added to or reduced their stakes in DM. Levin Capital Strategies L.P. purchased a new stake in shares of Desktop Metal in the first quarter worth about $35,000. Empowered Funds LLC acquired a new stake in Desktop Metal in the first quarter valued at approximately $45,000. Principal Financial Group Inc. grew its position 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 acquiring an additional 11,676 shares in the last quarter. Pathstone Family Office LLC acquired a new position in shares of Desktop Metal during the third quarter worth $63,000. Finally, Keating Investment Counselors Inc. purchased a new position in shares of Desktop Metal in the first quarter valued at $72,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

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.