Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,380,000 shares, an increase of 8.2% from the December 31st total of 2,200,000 shares. Approximately 12.7% of the company’s shares are short sold. Based on an average daily trading volume, of 283,200 shares, the short-interest ratio is currently 8.4 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Desktop Metal

Large investors have recently modified their holdings of the company. ABC Arbitrage SA purchased a new stake in shares of Desktop Metal during the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of Desktop Metal in the 2nd quarter valued at approximately $150,000. AQR Capital Management LLC raised its position in shares of Desktop Metal by 217.8% in the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 40,478 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Desktop Metal in the 3rd quarter valued at approximately $214,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Desktop Metal in the 2nd quarter valued at approximately $208,000. 56.31% of the stock is currently owned by hedge funds and other institutional investors.

Desktop Metal Price Performance

Desktop Metal stock opened at $2.41 on Tuesday. The stock’s 50-day moving average is $2.96 and its 200-day moving average is $4.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. Desktop Metal has a 12 month low of $2.02 and a 12 month high of $11.80.

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.