Desktop Metal (NYSE:DM) Shares Pass Above 50-Day Moving Average – Should You Sell?

Desktop Metal, Inc. (NYSE:DM) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.34 and traded as high as $2.49. Desktop Metal shares last traded at $2.21, with a volume of 256,895 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Desktop Metal from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

Desktop Metal Trading Down 8.7 %

The stock has a 50-day simple moving average of $2.34 and a 200 day simple moving average of $3.53. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. The company has a market cap of $73.68 million, a price-to-earnings ratio of -0.20 and a beta of 0.70.

Hedge Funds Weigh In On Desktop Metal

Several institutional investors and hedge funds have recently modified their holdings of DM. Murchinson Ltd. acquired a new position in shares of Desktop Metal in the 3rd quarter valued at about $972,000. XTX Topco Ltd acquired a new position in shares of Desktop Metal in the 3rd quarter valued at about $214,000. ABC Arbitrage SA acquired a new position in shares of Desktop Metal in the 4th quarter valued at about $27,000. Olympiad Research LP lifted its holdings in shares of Desktop Metal by 99.6% in the 4th quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after buying an additional 101,419 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Desktop Metal in the 4th quarter valued at about $90,000. 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.