Desktop Metal (NYSE:DM) Share Price Passes Below 200-Day Moving Average – What’s Next?

Desktop Metal, Inc. (NYSE:DM) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.72 and traded as low as $2.01. Desktop Metal shares last traded at $2.02, with a volume of 304,125 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Desktop Metal from a “hold” rating to a “sell” rating in a research note on Friday, February 7th.

Desktop Metal Stock Performance

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 company has a market capitalization of $67.35 million, a P/E ratio of -0.18 and a beta of 0.64. The business’s fifty day simple moving average is $2.44 and its 200-day simple moving average is $3.72.

Institutional Trading of Desktop Metal

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Desktop Metal by 2.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock valued at $908,000 after acquiring an additional 8,665 shares during the last quarter. ABC Arbitrage SA bought a new stake in Desktop Metal in the 4th quarter valued at $27,000. Squarepoint Ops LLC bought a new stake in Desktop Metal in the 4th quarter valued at $41,000. Fifth Lane Capital LP bought a new stake in Desktop Metal in the 4th quarter valued at $42,000. Finally, Renaissance Technologies LLC increased its holdings in Desktop Metal by 65.5% in the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 19,900 shares during the last quarter. 56.31% of the stock is currently owned by 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.