Desktop Metal (NYSE:DM) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Desktop Metal (NYSE:DM) in a report issued on Monday morning. The brokerage issued a sell rating on the pipeline company’s stock.

Desktop Metal Price Performance

DM opened at $1.50 on Monday. The stock’s 50-day moving average price is $1.69 and its 200 day moving average price is $1.91. Desktop Metal has a 12-month low of $1.13 and a 12-month high of $3.16. The company has a current ratio of 3.49, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a market cap of $482.99 million, a price-to-earnings ratio of -1.00 and a beta of 0.61.

Desktop Metal (NYSE:DM) last posted its earnings results on Thursday, August 3rd. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Desktop Metal had a negative return on equity of 25.20% and a negative net margin of 235.11%. The firm had revenue of $53.29 million for the quarter, compared to analyst estimates of $57.35 million. As a group, sell-side analysts expect that Desktop Metal will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On Desktop Metal

Several hedge funds have recently bought and sold shares of DM. US Bancorp DE increased its holdings in Desktop Metal by 2,613.4% during the 1st quarter. US Bancorp DE now owns 20,242 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 19,496 shares during the period. Simplicity Solutions LLC purchased a new stake in Desktop Metal during the 1st quarter worth about $28,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Desktop Metal during the 1st quarter worth about $101,000. Boston Standard Wealth Management LLC purchased a new stake in Desktop Metal during the 2nd quarter worth about $3,648,000. Finally, Daiwa Securities Group Inc. increased its holdings in Desktop Metal by 24.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 40,484 shares of the pipeline company’s stock worth $93,000 after purchasing an additional 7,952 shares during the period. Institutional investors and hedge funds own 53.68% of the company’s stock.

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 Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; Studio System, an office metal 3D printing system; and Desktop Metal Furnace, which is paired with the Studio System and binder jetting solutions to create turnkey metal additive manufacturing solutions.