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

StockNews.com upgraded shares of Desktop Metal (NYSE:DM) from a sell rating to a hold rating in a research report report published on Monday morning.

Desktop Metal Stock Down 0.2 %

NYSE DM opened at $4.15 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. The company has a market cap of $138.36 million, a price-to-earnings ratio of -0.37 and a beta of 0.60. The company has a 50 day moving average of $4.65 and a 200-day moving average of $4.69. Desktop Metal has a 1-year low of $3.62 and a 1-year high of $11.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of Desktop Metal in the third quarter worth approximately $214,000. Murchinson Ltd. bought a new position in Desktop Metal during the third quarter worth $972,000. ARK Investment Management LLC raised its stake in Desktop Metal by 49.1% during 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. Olympiad Research LP acquired a new position in Desktop Metal in the third quarter valued at $476,000. Finally, Point72 DIFC Ltd bought a new stake in Desktop Metal during the second quarter valued at $68,000. Institutional investors and hedge funds 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.