StockNews.com Upgrades Desktop Metal (NYSE:DM) to Hold

Desktop Metal (NYSE:DM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Desktop Metal Trading Down 0.8 %

NYSE:DM opened at $3.73 on Thursday. The company has a market cap of $124.36 million, a P/E ratio of -0.33 and a beta of 0.55. Desktop Metal has a twelve month low of $3.62 and a twelve month high of $11.80. The business has a 50 day moving average price of $4.50 and a two-hundred day moving average price of $4.57. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56.

Institutional Trading of Desktop Metal

A number of large investors have recently added to or reduced their stakes in DM. ARK Investment Management LLC lifted its position in shares of Desktop Metal by 49.1% in the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after buying an additional 251,156 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Desktop Metal by 66.6% during the 1st 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 last quarter. Cetera Advisors LLC bought a new position in Desktop Metal during the first quarter worth $281,000. Murchinson Ltd. acquired a new position in shares of Desktop Metal in the third quarter valued at $972,000. Finally, Olympiad Research LP bought a new position in shares of Desktop Metal in the third quarter valued at about $476,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

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.