Desktop Metal (NYSE:DM) Upgraded by StockNews.com to Hold Rating

Desktop Metal (NYSE:DM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Desktop Metal Stock Performance

DM stock opened at $4.99 on Friday. Desktop Metal has a twelve month low of $1.84 and a twelve month high of $11.80. The firm has a market cap of $166.20 million, a price-to-earnings ratio of -0.45 and a beta of 0.70. The business’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $3.52. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56.

Institutional Investors Weigh In On Desktop Metal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ABC Arbitrage SA bought a new position in Desktop Metal in the 4th quarter worth about $27,000. Squarepoint Ops LLC purchased a new stake in shares of Desktop Metal in the fourth quarter valued at approximately $41,000. Fifth Lane Capital LP bought a new position in Desktop Metal in the fourth quarter worth approximately $42,000. Cresset Asset Management LLC purchased a new position in Desktop Metal during the 4th quarter worth $51,000. Finally, Virtu Financial LLC bought a new stake in Desktop Metal during the 4th quarter valued at $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.