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

Desktop Metal, Inc. (NYSE:DM) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 5,780,000 shares, a decrease of 90.3% from the May 15th total of 59,880,000 shares. Currently, 28.2% of the shares of the stock are sold short. Based on an average daily volume of 302,400 shares, the days-to-cover ratio is presently 19.1 days.

Desktop Metal Trading Down 4.7 %

DM traded down $0.21 during trading on Wednesday, hitting $4.25. 826,232 shares of the stock traded hands, compared to its average volume of 335,076. The firm has a market capitalization of $1.40 billion, a P/E ratio of -4.32 and a beta of 0.64. Desktop Metal has a 12-month low of $4.03 and a 12-month high of $23.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.83 and a quick ratio of 1.64. The firm has a 50-day moving average of $7.30 and a 200 day moving average of $6.95.

Desktop Metal (NYSE:DM) last announced its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) EPS for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. The business had revenue of $40.60 million for the quarter. During the same period in the previous year, the company posted ($1.10) EPS. Equities research analysts anticipate that Desktop Metal will post -0.15 EPS for the current year.

Insider Transactions at Desktop Metal

In other Desktop Metal news, CFO Jason M. Cole sold 18,000 shares of Desktop Metal stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $6.20, for a total transaction of $111,600.00. Following the transaction, the chief financial officer now directly owns 87,168 shares of the company’s stock, valued at $540,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.22% of the company’s stock.

Institutional Trading of Desktop Metal

Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in shares of Desktop Metal by 41.1% in the 3rd quarter. Lazard Asset Management LLC now owns 1,357,784 shares of the pipeline company’s stock worth $1,982,000 after buying an additional 395,373 shares during the period. Pathstone Family Office LLC purchased a new stake in Desktop Metal in the third quarter worth about $63,000. DNB Asset Management AS bought a new position in shares of Desktop Metal during the fourth quarter valued at approximately $570,000. ARK Investment Management LLC lifted its holdings in shares of Desktop Metal by 15.2% during the fourth quarter. ARK Investment Management LLC now owns 3,958,202 shares of the pipeline company’s stock valued at $2,973,000 after purchasing an additional 522,677 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Desktop Metal in the 1st quarter worth approximately $281,000. 56.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

DM has been the topic of several analyst reports. Cantor Fitzgerald lifted their price objective on Desktop Metal from $1.25 to $12.50 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com began coverage on Desktop Metal in a research note on Saturday, March 2nd. They issued a “sell” rating on the stock.

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.