NEA Management Company LLC Has $5.95 Million Position in Desktop Metal, Inc. (NYSE:DM)

NEA Management Company LLC cut its stake in Desktop Metal, Inc. (NYSE:DM) by 90.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439,892 shares of the pipeline company’s stock after selling 12,967,702 shares during the period. NEA Management Company LLC owned approximately 4.33% of Desktop Metal worth $5,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Desktop Metal during the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd bought a new stake in Desktop Metal during the second quarter worth $68,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Desktop Metal in the 2nd quarter valued at $150,000. Levin Capital Strategies L.P. bought a new position in shares of Desktop Metal in the 1st quarter valued at $35,000. Finally, Empowered Funds LLC bought a new position in shares of Desktop Metal in the 1st quarter valued at $45,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Jason M. Cole sold 24,064 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $4.23, for a total value of $101,790.72. Following the completion of the sale, the chief financial officer now directly owns 69,352 shares in the company, valued at $293,358.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on DM shares. Craig Hallum reaffirmed a “hold” rating on shares of Desktop Metal in a research note on Monday, July 1st. StockNews.com started coverage on shares of Desktop Metal in a research note on Tuesday, June 18th. They issued a “sell” rating on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $5.50 price objective (down from $12.50) on shares of Desktop Metal in a research report on Monday, July 8th.

Desktop Metal Stock Performance

NYSE DM opened at $4.56 on Wednesday. Desktop Metal, Inc. has a twelve month low of $3.62 and a twelve month high of $15.30. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.60 and a quick ratio of 1.31. The business’s fifty day moving average is $4.51 and its 200 day moving average is $5.86.

Desktop Metal (NYSE:DM) last announced its quarterly earnings results on Tuesday, July 30th. The pipeline company reported ($0.53) EPS for the quarter. Desktop Metal had a negative net margin of 215.57% and a negative return on equity of 35.69%. The firm had revenue of $38.93 million for the quarter. Equities analysts predict that Desktop Metal, Inc. will post -2.15 earnings per share for the current fiscal year.

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.