Desktop Metal, Inc. (NYSE:DM) Short Interest Up 8.2% in December

Desktop Metal, Inc. (NYSE:DM) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,380,000 shares, an increase of 8.2% from the December 15th total of 2,200,000 shares. Based on an average daily volume of 283,200 shares, the days-to-cover ratio is currently 8.4 days. Currently, 12.7% of the company’s shares are sold short.

Desktop Metal Trading Down 9.7 %

NYSE DM opened at $2.20 on Tuesday. Desktop Metal has a one year low of $2.18 and a one year high of $11.80. The company has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $4.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The firm has a market capitalization of $73.18 million, a PE ratio of -0.20 and a beta of 0.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC boosted 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 valued at $3,559,000 after purchasing an additional 251,156 shares during the period. Murchinson Ltd. acquired a new position in Desktop Metal during the 3rd quarter valued at about $972,000. Olympiad Research LP acquired a new position in Desktop Metal during the 3rd quarter valued at about $476,000. Clearline Capital LP acquired a new position in Desktop Metal during the 2nd quarter valued at about $381,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Desktop Metal during the 2nd quarter valued at about $229,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Desktop Metal from a “sell” rating to a “hold” rating in a 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.