Desktop Metal (NYSE:DM) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Desktop Metal (NYSE:DM) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have a $5.50 price target on the pipeline company’s stock, down from their prior price target of $12.50.

Several other brokerages have also recently commented on DM. Craig Hallum restated a hold rating on shares of Desktop Metal in a research report on Monday, July 1st. StockNews.com initiated coverage on shares of Desktop Metal in a report on Tuesday, June 18th. They set a sell rating on the stock.

Desktop Metal Price Performance

Shares of NYSE:DM opened at $5.34 on Monday. The firm has a 50 day moving average of $5.42 and a 200-day moving average of $6.54. The stock has a market capitalization of $176.43 million, a PE ratio of -0.54 and a beta of 0.61. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. Desktop Metal has a 12 month low of $3.62 and a 12 month high of $20.00.

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

Insider Activity at Desktop Metal

In related 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 sale, the chief financial officer now directly owns 87,168 shares of the company’s stock, valued at approximately $540,441.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Desktop Metal

A number of institutional investors have recently added to or reduced their stakes in DM. Levin Capital Strategies L.P. bought a new stake in Desktop Metal during the 1st quarter worth approximately $35,000. Empowered Funds LLC bought a new stake in Desktop Metal during the 1st quarter worth approximately $45,000. Keating Investment Counselors Inc. bought a new stake in Desktop Metal during the 1st quarter worth approximately $72,000. Cetera Advisors LLC bought a new stake in Desktop Metal during the 1st quarter worth approximately $281,000. Finally, Summit Financial LLC grew its holdings in Desktop Metal by 8.8% during the 1st quarter. Summit Financial LLC now owns 344,574 shares of the pipeline company’s stock worth $303,000 after acquiring an additional 27,754 shares during the last quarter. 56.31% of the stock is owned by institutional investors.

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.