Desktop Metal, Inc. (NYSE:DM) Short Interest Up 8.2% in January

Desktop Metal, Inc. (NYSE:DMGet Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,380,000 shares, a growth of 8.2% from the December 31st total of 2,200,000 shares. Approximately 12.7% of the shares of the company are sold short. Based on an average daily volume of 283,200 shares, the short-interest ratio is presently 8.4 days.

Institutional Trading of Desktop Metal

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Desktop Metal in the 2nd quarter worth $150,000. AQR Capital Management LLC lifted its position in Desktop Metal by 217.8% in the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 40,478 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Desktop Metal in the 2nd quarter valued at approximately $208,000. Olympiad Research LP acquired a new position in Desktop Metal during the 3rd quarter worth approximately $476,000. Finally, ARK Investment Management LLC increased its position in Desktop Metal by 49.1% during the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock worth $3,559,000 after purchasing an additional 251,156 shares during the period. 56.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Get Our Latest Research Report on Desktop Metal

Desktop Metal Trading Up 5.9 %

Shares of Desktop Metal stock opened at $2.41 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The company has a market capitalization of $80.18 million, a P/E ratio of -0.21 and a beta of 0.64. Desktop Metal has a 1 year low of $2.02 and a 1 year high of $11.80. The company’s fifty day moving average is $2.96 and its two-hundred day moving average is $4.02.

Desktop Metal Company Profile

(Get Free Report)

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.

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