Desktop Metal’s (DM) “Hold” Rating Reaffirmed at Craig Hallum

Desktop Metal (NYSE:DM)‘s stock had its “hold” rating restated by Craig Hallum in a research note issued on Monday, Benzinga reports.

A number of other analysts have also recently commented on the stock. Cantor Fitzgerald increased their price target on shares of Desktop Metal from $1.25 to $12.50 and gave the company an “overweight” rating in a research note on Tuesday, June 11th. StockNews.com assumed coverage on shares of Desktop Metal in a research report on Tuesday, June 18th. They issued a “sell” rating on the stock.

Desktop Metal Stock Down 3.9 %

Shares of Desktop Metal stock traded down $0.16 on Monday, hitting $3.97. The company had a trading volume of 473,577 shares, compared to its average volume of 416,723. The firm has a market capitalization of $131.17 million, a P/E ratio of -0.40 and a beta of 0.61. Desktop Metal has a twelve month low of $3.62 and a twelve month high of $20.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.83 and a quick ratio of 1.64. The stock has a 50-day moving average of $5.96 and a 200-day moving average of $6.67.

Desktop Metal (NYSE:DM) last released its quarterly earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share for the quarter. The company had revenue of $40.60 million during the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. During the same period in the previous year, the business earned ($1.10) EPS. Research analysts predict that Desktop Metal will post -1.46 earnings per share for the current year.

Insider Activity

In related news, CFO Jason M. Cole sold 18,000 shares of Desktop Metal stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $6.20, for a total transaction of $111,600.00. Following the sale, the chief financial officer now directly owns 87,168 shares in the company, valued at approximately $540,441.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Desktop Metal

Several hedge funds have recently modified their holdings of DM. SG Americas Securities LLC increased its stake in Desktop Metal by 4,740.2% during the 1st quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock valued at $840,000 after purchasing an additional 934,632 shares in the last quarter. DNB Asset Management AS bought a new stake in Desktop Metal during the 4th quarter valued at $570,000. ARK Investment Management LLC increased its stake in Desktop Metal by 15.2% during the 4th quarter. ARK Investment Management LLC now owns 3,958,202 shares of the pipeline company’s stock valued at $2,973,000 after purchasing an additional 522,677 shares in the last quarter. Lazard Asset Management LLC increased its stake in Desktop Metal by 41.1% during the 3rd quarter. Lazard Asset Management LLC now owns 1,357,784 shares of the pipeline company’s stock valued at $1,982,000 after purchasing an additional 395,373 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in Desktop Metal during the 1st quarter valued at $281,000. Institutional investors own 56.31% of the company’s stock.

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.