Desktop Metal, Inc. (NYSE:DM - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 5,780,000 shares, a decrease of 90.3% from the May 15th total of 59,880,000 shares. Based on an average daily volume of 302,400 shares, the short-interest ratio is presently 19.1 days. Approximately 28.2% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. StockNews.com began coverage on shares of Desktop Metal in a report on Saturday, March 2nd. They issued a "sell" rating for the company. Cantor Fitzgerald lifted their price target on shares of Desktop Metal from $1.25 to $12.50 and gave the stock an "overweight" rating in a research report on Tuesday.
Read Our Latest Report on DM
Insiders Place Their Bets
In other news, CFO Jason M. Cole sold 18,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total transaction of $111,600.00. Following the sale, the chief financial officer now directly owns 87,168 shares in the company, valued at approximately $540,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.22% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Desktop Metal
A number of hedge funds have recently made changes to their positions in the business. Levin Capital Strategies L.P. bought a new position in shares of Desktop Metal during the 1st quarter worth approximately $35,000. Empowered Funds LLC bought a new position in shares of Desktop Metal during the first quarter valued at $45,000. Principal Financial Group Inc. boosted its stake in shares of Desktop Metal by 39.2% in the 3rd 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 stake in shares of Desktop Metal in the 3rd quarter worth about $63,000. Finally, Keating Investment Counselors Inc. acquired a new stake in shares of Desktop Metal during the 1st quarter worth about $72,000. Institutional investors and hedge funds own 56.31% of the company's stock.
Desktop Metal Stock Down 4.7 %
Shares of NYSE:DM traded down $0.21 on Wednesday, reaching $4.25. The company had a trading volume of 826,232 shares, compared to its average volume of 335,076. 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 stock has a market capitalization of $1.40 billion, a P/E ratio of -4.32 and a beta of 0.64. The stock has a 50-day moving average price of $7.30 and a 200 day moving average price of $6.95. Desktop Metal has a twelve month low of $4.03 and a twelve month high of $23.00.
Desktop Metal (NYSE:DM - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share for the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. The business had revenue of $40.60 million for the quarter. During the same period in the previous year, the company earned ($1.10) earnings per share. On average, equities analysts expect that Desktop Metal will post -0.15 EPS for the current year.
Desktop Metal Company Profile
(
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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