Desktop Metal (DM) Set to Announce Earnings on Wednesday

Desktop Metal (NYSE:DM) is set to issue its quarterly earnings data before the market opens on Wednesday, July 31st. Desktop Metal has set its FY 2024 guidance at EPS.

Desktop Metal (NYSE:DM) last released its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. The business 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 prior year, the firm earned ($1.10) EPS.

Desktop Metal Stock Up 2.1 %

Shares of DM traded up $0.10 during mid-day trading on Friday, reaching $4.87. The company’s stock had a trading volume of 72,521 shares, compared to its average volume of 496,511. The business has a fifty day moving average of $4.94 and a 200 day moving average of $6.37. The company has a market cap of $160.90 million, a price-to-earnings ratio of -0.49 and a beta of 0.61. Desktop Metal has a 1 year low of $3.62 and a 1 year high of $19.90. The company has a quick ratio of 1.64, a current ratio of 2.83 and a debt-to-equity ratio of 0.57.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com assumed coverage on Desktop Metal in a report on Tuesday, June 18th. They set a “sell” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $5.50 price objective (down from $12.50) on shares of Desktop Metal in a report on Monday, July 8th. Finally, Craig Hallum reiterated a “hold” rating on shares of Desktop Metal in a report on Monday, July 1st.

Insider Buying and Selling

In other Desktop Metal news, CFO Jason M. Cole sold 18,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 87,168 shares of the company’s stock, valued at $540,441.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.22% of the stock is owned by corporate insiders.

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.