Desktop Metal (NYSE:DM) Cut to Sell at StockNews.com

StockNews.com lowered shares of Desktop Metal (NYSE:DM) from a hold rating to a sell rating in a report released on Friday morning.

Desktop Metal Stock Performance

DM stock opened at $2.68 on Friday. 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 firm has a market cap of $89.38 million, a PE ratio of -0.24 and a beta of 0.64. The business has a 50 day moving average of $2.84 and a 200-day moving average of $3.95. Desktop Metal has a 12-month low of $2.02 and a 12-month high of $11.80.

Institutional Investors Weigh In On Desktop Metal

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Desktop Metal by 217.8% during the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after acquiring an additional 40,478 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Desktop Metal in the second quarter valued at approximately $150,000. Olympiad Research LP bought a new position in Desktop Metal during the third quarter valued at $476,000. ARK Investment Management LLC increased its position in Desktop Metal by 49.1% in the third 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 last quarter. Finally, Murchinson Ltd. purchased a new stake in Desktop Metal in the third quarter worth $972,000. 56.31% of the stock is owned by hedge funds and other institutional investors.

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.