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

Craig Hallum reaffirmed their hold rating on shares of Desktop Metal (NYSE:DM) in a research note released on Monday morning, Marketbeat Ratings reports.

DM has been the subject of a number of other reports. StockNews.com assumed coverage on shares of Desktop Metal in a report on Tuesday, June 18th. They set a sell rating for the company. Cantor Fitzgerald raised their price objective on shares of Desktop Metal from $1.25 to $12.50 and gave the stock an overweight rating in a report on Tuesday, June 11th.

Desktop Metal Stock Up 21.3 %

DM opened at $5.24 on Monday. The stock has a market cap of $173.13 million, a PE ratio of -0.53 and a beta of 0.61. The company has a quick ratio of 1.64, a current ratio of 2.83 and a debt-to-equity ratio of 0.57. Desktop Metal has a 52 week low of $3.62 and a 52 week high of $20.00. The business’s fifty day simple moving average is $5.66 and its 200 day simple moving average is $6.60.

Desktop Metal (NYSE:DM) last announced its quarterly earnings data on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. The company had revenue of $40.60 million for the quarter. During the same quarter in the prior year, the business earned ($1.10) earnings per share. As a group, research analysts expect that Desktop Metal will post -1.46 earnings per share for the current fiscal year.

Insider Activity at Desktop Metal

In other Desktop Metal 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 value of $111,600.00. Following the completion of the sale, the chief financial officer now owns 87,168 shares of the company’s stock, valued at approximately $540,441.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Desktop Metal

A number of large investors have recently added to or reduced their stakes in DM. SG Americas Securities LLC lifted its stake in shares of 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 buying an additional 934,632 shares in the last quarter. DNB Asset Management AS bought a new stake in shares of Desktop Metal in the 4th quarter worth about $570,000. ARK Investment Management LLC increased its holdings in shares of Desktop Metal by 15.2% in the 4th quarter. ARK Investment Management LLC now owns 3,958,202 shares of the pipeline company’s stock worth $2,973,000 after buying an additional 522,677 shares during the last quarter. Lazard Asset Management LLC grew its holdings 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 during the last quarter. Finally, Cetera Advisors LLC bought a new position in Desktop Metal during the 1st quarter valued at about $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.