Charles Schwab Investment Management Inc. Cuts Position in Desktop Metal, Inc. (NYSE:DM)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Desktop Metal, Inc. (NYSE:DM) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,149 shares of the pipeline company’s stock after selling 10,982 shares during the period. Charles Schwab Investment Management Inc. owned 0.41% of Desktop Metal worth $645,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DM. ARK Investment Management LLC increased its stake in shares of Desktop Metal by 49.1% in the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock worth $3,559,000 after acquiring an additional 251,156 shares during the last quarter. Olympiad Research LP acquired a new position in Desktop Metal in the 3rd quarter valued at about $476,000. Clearline Capital LP purchased a new stake in shares of Desktop Metal in the 2nd quarter valued at approximately $381,000. Summit Securities Group LLC acquired a new stake in shares of Desktop Metal during the 2nd quarter worth approximately $258,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Desktop Metal during the 2nd quarter valued at approximately $229,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

Desktop Metal Stock Performance

Shares of DM opened at $3.47 on Thursday. The company’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.52. Desktop Metal, Inc. has a 12-month low of $3.23 and a 12-month high of $11.80. The firm has a market cap of $115.69 million, a PE ratio of -0.31 and a beta of 0.55. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Desktop Metal from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th.

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.