Desktop Metal (NYSE:DM) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Desktop Metal, Inc. (NYSE:DM) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.26 and traded as low as $2.18. Desktop Metal shares last traded at $2.20, with a volume of 545,380 shares changing hands.

Wall Street Analysts Forecast Growth

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

Desktop Metal Stock Down 9.7 %

The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. The business’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $4.24.

Hedge Funds Weigh In On Desktop Metal

Several large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in shares of 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 in the last quarter. Murchinson Ltd. acquired a new stake in Desktop Metal during the third quarter worth $972,000. Olympiad Research LP bought a new stake in Desktop Metal in the 3rd quarter valued at $476,000. Clearline Capital LP bought a new stake in Desktop Metal in the 2nd quarter valued at $381,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Desktop Metal in the 2nd quarter valued at $229,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

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.