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

Desktop Metal, Inc. (NYSE:DM)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.69 and traded as high as $4.95. Desktop Metal shares last traded at $4.87, with a volume of 275,308 shares changing hands.

Desktop Metal Stock Performance

The firm has a fifty day moving average of $4.69 and a 200-day moving average of $5.16. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56.

Institutional Investors Weigh In On Desktop Metal

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in Desktop Metal by 49.1% in the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after purchasing an additional 251,156 shares during the last quarter. Olympiad Research LP bought a new stake in Desktop Metal in the third quarter valued at approximately $476,000. Point72 DIFC Ltd acquired a new stake in shares of Desktop Metal in the second quarter valued at approximately $68,000. Cubist Systematic Strategies LLC bought a new position in shares of Desktop Metal during the 2nd quarter worth approximately $150,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Desktop Metal during the 2nd quarter worth approximately $229,000. 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.