Desktop Metal, Inc. (NYSE:DM – Get 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.
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
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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