ABC Arbitrage SA Invests $27,000 in Desktop Metal, Inc. (NYSE:DM)

ABC Arbitrage SA acquired a new position in Desktop Metal, Inc. (NYSE:DM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,589 shares of the pipeline company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also modified their holdings of DM. ARK Investment Management LLC grew its stake in shares of Desktop Metal by 49.1% in the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock worth $3,559,000 after acquiring an additional 251,156 shares during the last quarter. Murchinson Ltd. acquired a new stake in shares of Desktop Metal in the third quarter worth $972,000. Olympiad Research LP acquired a new stake in shares of Desktop Metal in the third quarter worth $476,000. Finally, XTX Topco Ltd acquired a new stake in shares of Desktop Metal in the third quarter worth $214,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Desktop Metal from a “hold” rating to a “sell” rating in a research note on Friday, February 7th.

Desktop Metal Stock Down 1.3 %

Shares of DM stock opened at $2.57 on Friday. The stock has a market cap of $85.52 million, a P/E ratio of -0.23 and a beta of 0.64. Desktop Metal, Inc. has a one year low of $2.02 and a one year high of $11.80. The stock has a fifty day moving average price of $2.70 and a 200 day moving average price of $3.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

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.