Geode Capital Management LLC Lowers Stock Position in Desktop Metal, Inc. (NYSE:DM)

Geode Capital Management LLC trimmed its stake in Desktop Metal, Inc. (NYSE:DM) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 260,541 shares of the pipeline company’s stock after selling 8,066 shares during the period. Geode Capital Management LLC owned about 0.78% of Desktop Metal worth $1,217,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Murchinson Ltd. acquired a new stake in shares of Desktop Metal during the third quarter worth about $972,000. ARK Investment Management LLC increased its stake in Desktop Metal by 49.1% during the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock worth $3,559,000 after buying an additional 251,156 shares during the period. Clearline Capital LP acquired a new stake in Desktop Metal during the 2nd quarter worth approximately $381,000. Susquehanna Fundamental Investments LLC purchased a new position in Desktop Metal in the 2nd quarter valued at approximately $208,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Desktop Metal in the second quarter worth $150,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

Desktop Metal Stock Performance

Shares of Desktop Metal stock opened at $2.72 on Friday. The business has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $4.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. Desktop Metal, Inc. has a one year low of $2.21 and a one year high of $11.80. The company has a market cap of $90.69 million, a PE ratio of -0.24 and a beta of 0.64.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Desktop Metal 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.