Desktop Metal (NYSE:DM) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Desktop Metal (NYSE:DM) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the pipeline company’s stock.

Separately, Cantor Fitzgerald boosted their price target on Desktop Metal from $1.25 to $12.50 and gave the company an “overweight” rating in a research note on Tuesday, June 11th.

Desktop Metal Trading Up 35.8 %

Shares of DM opened at $4.97 on Tuesday. Desktop Metal has a 1-year low of $3.62 and a 1-year high of $21.10. The company has a 50-day moving average of $6.75 and a 200 day moving average of $6.84. The firm has a market capitalization of $164.21 million, a price-to-earnings ratio of -0.50 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.83 and a quick ratio of 1.64.

Desktop Metal (NYSE:DM) last announced its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. The company had revenue of $40.60 million for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. During the same quarter in the previous year, the business earned ($1.10) earnings per share. On average, research analysts expect that Desktop Metal will post -1.46 EPS for the current year.

Insider Buying and Selling at Desktop Metal

In other news, CFO Jason M. Cole sold 18,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 87,168 shares in the company, valued at approximately $540,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 14.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Desktop Metal

A number of hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC purchased a new position in Desktop Metal in the 1st quarter valued at approximately $281,000. Levin Capital Strategies L.P. purchased a new stake in shares of Desktop Metal during the 1st quarter worth $35,000. Price T Rowe Associates Inc. MD lifted its position in shares of Desktop Metal by 66.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock worth $350,000 after purchasing an additional 158,872 shares during the last quarter. Keating Investment Counselors Inc. purchased a new stake in shares of Desktop Metal during the 1st quarter worth $72,000. Finally, SG Americas Securities LLC lifted its position in shares of Desktop Metal by 4,740.2% during the 1st quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock worth $840,000 after purchasing an additional 934,632 shares during the last quarter. Hedge funds and other 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.