Desktop Metal (NYSE:DM) Share Price Crosses Above 50-Day Moving Average of $0.73

Desktop Metal, Inc. (NYSE:DM)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.73 and traded as high as $0.87. Desktop Metal shares last traded at $0.85, with a volume of 3,638,826 shares traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on DM. StockNews.com began coverage on Desktop Metal in a research report on Saturday, March 2nd. They issued a “sell” rating for the company. Cantor Fitzgerald began coverage on Desktop Metal in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $1.25 target price for the company.

Desktop Metal Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 3.08 and a quick ratio of 1.90. The company has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $0.78.

Desktop Metal (NYSE:DM) last announced its quarterly earnings data on Friday, March 15th. The pipeline company reported ($0.05) earnings per share for the quarter. Desktop Metal had a negative net margin of 170.41% and a negative return on equity of 29.25%. The company had revenue of $52.35 million during the quarter. During the same period in the prior year, the firm earned ($0.11) EPS. On average, equities analysts predict that Desktop Metal, Inc. will post -0.15 EPS for the current year.

Institutional Trading of Desktop Metal

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC lifted its position in Desktop Metal by 688.4% in the fourth quarter. Virtu Financial LLC now owns 202,354 shares of the pipeline company’s stock valued at $152,000 after purchasing an additional 176,686 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Desktop Metal by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 238,405 shares of the pipeline company’s stock valued at $180,000 after purchasing an additional 64,200 shares during the last quarter. Barclays PLC raised its holdings in shares of Desktop Metal by 351.0% during the fourth quarter. Barclays PLC now owns 436,656 shares of the pipeline company’s stock valued at $329,000 after acquiring an additional 339,827 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Desktop Metal by 137.2% during the fourth quarter. Royal Bank of Canada now owns 377,511 shares of the pipeline company’s stock valued at $283,000 after acquiring an additional 218,389 shares in the last quarter. Finally, Pathstone Holdings LLC bought a new position in shares of Desktop Metal during the fourth quarter valued at approximately $32,000. Institutional investors own 56.31% of the company’s stock.

About Desktop Metal

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.