Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,730,000 shares, a growth of 8.8% from the January 15th total of 2,510,000 shares. Approximately 14.9% of the shares of the stock are sold short. Based on an average trading volume of 311,800 shares, the days-to-cover ratio is presently 8.8 days.

Analysts Set New Price Targets

Separately, StockNews.com lowered Desktop Metal from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On Desktop Metal

Several institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its position in Desktop Metal by 49.1% in the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after acquiring an additional 251,156 shares during the period. Gabelli Funds LLC lifted its stake in Desktop Metal by 19.5% in the 4th quarter. Gabelli Funds LLC now owns 432,706 shares of the pipeline company’s stock valued at $1,013,000 after buying an additional 70,758 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Desktop Metal by 2.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock valued at $908,000 after buying an additional 8,665 shares in the last quarter. Cigogne Management SA purchased a new position in shares of Desktop Metal during the 4th quarter worth $702,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Desktop Metal by 247.7% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 284,068 shares of the pipeline company’s stock worth $665,000 after buying an additional 202,368 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

Desktop Metal Stock Down 1.3 %

Desktop Metal stock opened at $2.57 on Tuesday. Desktop Metal has a fifty-two week low of $2.02 and a fifty-two week high of $11.80. 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 $85.52 million, a P/E ratio of -0.23 and a beta of 0.64. The stock has a 50-day simple moving average of $2.67 and a 200-day simple moving average of $3.85.

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.