Desktop Metal (NYSE:DM) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Desktop Metal, Inc. (NYSE:DM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.26 and traded as low as $2.18. Desktop Metal shares last traded at $2.20, with a volume of 545,380 shares changing hands.

Wall Street Analyst Weigh In

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

Desktop Metal Stock Performance

The company has a market cap of $73.18 million, a PE ratio of -0.20 and a beta of 0.64. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The business has a 50-day moving average of $3.41 and a 200 day moving average of $4.24.

Institutional Investors Weigh In On Desktop Metal

Hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in Desktop Metal during the second quarter worth $68,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Desktop Metal in the second quarter valued at approximately $150,000. XTX Topco Ltd bought a new position in shares of Desktop Metal during the 3rd quarter worth $214,000. Susquehanna Fundamental Investments LLC bought a new position in Desktop Metal during the 2nd quarter worth about $208,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Desktop Metal in the second quarter worth approximately $229,000. Hedge funds and other 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.