StockNews.com Upgrades Desktop Metal (NYSE:DM) to Hold

StockNews.com upgraded shares of Desktop Metal (NYSE:DM) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Desktop Metal Stock Down 1.7 %

Desktop Metal stock opened at $4.91 on Friday. The company’s 50 day simple moving average is $2.58 and its 200 day simple moving average is $3.51. The firm has a market capitalization of $163.54 million, a price-to-earnings ratio of -0.44 and a beta of 0.70. Desktop Metal has a fifty-two week low of $1.84 and a fifty-two week high of $11.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Murchinson Ltd. acquired a new position in shares of Desktop Metal in the 3rd quarter valued at approximately $972,000. XTX Topco Ltd bought a new position in Desktop Metal in the third quarter valued at approximately $214,000. ABC Arbitrage SA acquired a new position in shares of Desktop Metal in the fourth quarter valued at approximately $27,000. Olympiad Research LP increased its position in shares of Desktop Metal by 99.6% during the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock worth $476,000 after acquiring an additional 101,419 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Desktop Metal during the fourth quarter worth $90,000. 56.31% of the stock is owned by institutional investors and hedge funds.

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.