Desktop Metal (NYSE:DM) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Desktop Metal (NYSE:DM - Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a "sell" rating on the pipeline company's stock.

Separately, Cantor Fitzgerald increased their price objective on shares of Desktop Metal from $1.25 to $12.50 and gave the company an "overweight" rating in a research note on Tuesday, June 11th.

Desktop Metal Trading Up 36.1 %

Shares of NYSE DM traded up $1.32 during midday trading on Tuesday, hitting $4.98. The company's stock had a trading volume of 3,930,801 shares, compared to its average volume of 373,891. Desktop Metal has a 12-month low of $3.62 and a 12-month high of $21.10. 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 firm has a market cap of $164.54 million, a P/E ratio of -0.50 and a beta of 0.64. The business's 50 day moving average is $6.86 and its two-hundred day moving average is $6.86.

Desktop Metal (NYSE:DM - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The pipeline company reported ($0.50) EPS for the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. The company had revenue of $40.60 million during the quarter. During the same quarter in the previous year, the firm posted ($1.10) EPS. As a group, equities research analysts expect that Desktop Metal will post -1.46 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jason M. Cole sold 18,000 shares of the company's 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 completion of the transaction, the chief financial officer now directly owns 87,168 shares of the company's stock, valued at $540,441.60. The sale was disclosed in a 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 large investors have recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in shares of Desktop Metal during the first quarter worth about $281,000. Levin Capital Strategies L.P. purchased a new position in shares of Desktop Metal in the 1st quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Desktop Metal by 66.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company's stock valued at $350,000 after purchasing an additional 158,872 shares during the period. Keating Investment Counselors Inc. purchased a new stake in shares of Desktop Metal during the first quarter worth approximately $72,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Desktop Metal by 4,740.2% during the first quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company's stock worth $840,000 after purchasing an additional 934,632 shares during the period. 56.31% of the stock is 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.