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

Desktop Metal (NYSE:DM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Desktop Metal Price Performance

Shares of DM stock opened at $3.80 on Thursday. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average is $4.55 and its 200 day moving average is $4.59. The stock has a market cap of $126.69 million, a price-to-earnings ratio of -0.34 and a beta of 0.55. Desktop Metal has a twelve month low of $3.62 and a twelve month high of $11.80.

Institutional Trading of Desktop Metal

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Desktop Metal during the second quarter worth $25,000. Point72 DIFC Ltd purchased a new position in shares of Desktop Metal during the second quarter valued at about $68,000. Cubist Systematic Strategies LLC bought a new stake in shares of Desktop Metal in the second quarter worth about $150,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Desktop Metal in the second quarter worth about $208,000. Finally, XTX Topco Ltd purchased a new stake in shares of Desktop Metal in the third quarter worth about $214,000. 56.31% of the stock is owned by hedge funds and other 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.