Zacks Investment Research Lowers Desktop Metal (NYSE:DM) to Sell

Zacks Investment Research lowered shares of Desktop Metal (NYSE:DMGet Rating) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Desktop Metal Inc. provides mass production and turnkey additive manufacturing solutions. It offers metal 3D printing technology. Desktop Metal Inc., formerly known as Trine Acquisition Corp., is based in New York, United States. “

DM has been the topic of several other reports. Lake Street Capital upgraded shares of Desktop Metal from a hold rating to a buy rating and set a $5.00 price objective on the stock in a research report on Monday, January 10th. Stifel Nicolaus cut their price objective on shares of Desktop Metal from $11.00 to $6.00 in a research report on Wednesday, March 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Desktop Metal currently has an average rating of Hold and a consensus price target of $9.75.

Shares of DM stock opened at $1.88 on Tuesday. The firm has a market cap of $587.48 million, a P/E ratio of -2.09 and a beta of 0.64. Desktop Metal has a 1-year low of $1.26 and a 1-year high of $15.48. The firm has a fifty day moving average of $4.09 and a two-hundred day moving average of $4.92.

Desktop Metal (NYSE:DMGet Rating) last announced its quarterly earnings data on Tuesday, March 8th. The pipeline company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Desktop Metal had a negative return on equity of 15.09% and a negative net margin of 173.46%. The company had revenue of $56.68 million for the quarter, compared to analyst estimates of $52.50 million. Equities research analysts predict that Desktop Metal will post -0.38 earnings per share for the current fiscal year.

In other Desktop Metal news, CEO Ric Fulop acquired 128,850 shares of the stock in a transaction dated Wednesday, March 16th. The shares were bought at an average price of $4.08 per share, with a total value of $525,708.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.25% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new position in shares of Desktop Metal in the third quarter worth approximately $37,000. Harbour Investments Inc. increased its position in shares of Desktop Metal by 498.8% in the fourth quarter. Harbour Investments Inc. now owns 6,257 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 5,212 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Desktop Metal by 73.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 8,058 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 3,416 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Desktop Metal in the third quarter worth approximately $60,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Desktop Metal in the first quarter worth approximately $47,000. 39.23% of the stock is currently owned by institutional investors and hedge funds.

Desktop Metal Company Profile (Get Rating)

Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.

Featured Articles

Get a free copy of the Zacks research report on Desktop Metal (DM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Desktop Metal (NYSE:DM)

Receive News & Ratings for Desktop Metal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Desktop Metal and related companies with MarketBeat.com's FREE daily email newsletter.