Desktop Metal, Inc. (NYSE:DM) Short Interest Up 8.2% in December

Desktop Metal, Inc. (NYSE:DM) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,380,000 shares, a growth of 8.2% from the December 15th total of 2,200,000 shares. Currently, 12.7% of the shares of the stock are short sold. Based on an average daily volume of 283,200 shares, the short-interest ratio is currently 8.4 days.

Institutional Investors Weigh In On Desktop Metal

A number of large investors have recently added to or reduced their stakes in DM. XTX Topco Ltd acquired a new stake in shares of Desktop Metal during the 3rd quarter worth about $214,000. Murchinson Ltd. acquired a new position in shares of Desktop Metal during the third quarter worth about $972,000. ARK Investment Management LLC boosted 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 worth $3,559,000 after buying an additional 251,156 shares during the period. Olympiad Research LP purchased a new stake in shares of Desktop Metal during the 3rd quarter valued at about $476,000. Finally, Point72 DIFC Ltd acquired a new position in Desktop Metal during the 2nd quarter worth approximately $68,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Desktop Metal from a “sell” rating to a “hold” rating in a report on Thursday, December 12th.

Desktop Metal Stock Performance

Shares of Desktop Metal stock traded down $0.24 during trading on Monday, reaching $2.20. The company’s stock had a trading volume of 545,380 shares, compared to its average volume of 326,641. The firm has a market cap of $73.18 million, a PE ratio of -0.20 and a beta of 0.64. The company has a 50-day moving average price of $3.41 and a two-hundred day moving average price of $4.24. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. Desktop Metal has a fifty-two week low of $2.18 and a fifty-two week high of $11.80.

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.