Traders Buy High Volume of Call Options on Desktop Metal (NYSE:DM)

Desktop Metal, Inc. (NYSE:DM) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 5,257 call options on the company. This is an increase of approximately 1,415% compared to the average volume of 347 call options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Desktop Metal from a “hold” rating to a “sell” rating in a report on Friday, February 7th.

Desktop Metal Price Performance

Shares of Desktop Metal stock opened at $4.51 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The company has a market cap of $150.37 million, a PE ratio of -0.40 and a beta of 0.70. The firm has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $3.50. Desktop Metal has a fifty-two week low of $1.84 and a fifty-two week high of $11.80.

Institutional Investors Weigh In On Desktop Metal

Hedge funds have recently made changes to their positions in the stock. Murchinson Ltd. bought a new position in Desktop Metal during the third quarter valued at about $972,000. XTX Topco Ltd acquired a new stake in shares of Desktop Metal during the 3rd quarter worth approximately $214,000. ABC Arbitrage SA bought a new stake in shares of Desktop Metal during the fourth quarter valued at approximately $27,000. Olympiad Research LP raised its stake in shares of Desktop Metal by 99.6% in the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after purchasing an additional 101,419 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Desktop Metal in the fourth quarter worth $90,000. Institutional investors own 56.31% of the company’s stock.

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.