Desktop Metal, Inc. (NYSE:DM) Sees Significant Drop in Short Interest

Desktop Metal, Inc. (NYSE:DM) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,440,000 shares, a decline of 12.2% from the November 15th total of 2,780,000 shares. Based on an average daily volume of 246,400 shares, the days-to-cover ratio is presently 9.9 days. Currently, 13.0% of the company’s stock are sold short.

Desktop Metal Stock Down 5.2 %

Desktop Metal stock traded down $0.19 during midday trading on Tuesday, hitting $3.43. The stock had a trading volume of 463,061 shares, compared to its average volume of 399,022. 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 business has a fifty day moving average price of $4.48 and a 200 day moving average price of $4.54. Desktop Metal has a 12 month low of $3.23 and a 12 month high of $11.80. The stock has a market cap of $114.36 million, a P/E ratio of -0.30 and a beta of 0.55.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Desktop Metal from a “sell” rating to a “hold” rating in a report on Thursday, December 12th.

Institutional Investors Weigh In On Desktop Metal

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Desktop Metal during the 2nd quarter valued at approximately $25,000. Point72 DIFC Ltd bought a new stake in Desktop Metal in the second quarter valued at $68,000. Cubist Systematic Strategies LLC acquired a new position in shares of Desktop Metal during the second quarter valued at $150,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Desktop Metal during the second quarter worth about $208,000. Finally, XTX Topco Ltd bought a new position in shares of Desktop Metal during the third quarter worth about $214,000. 56.31% of the stock is owned by institutional investors and hedge funds.

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.