Desktop Metal (NYSE:DM) Receives Hold Rating from Craig Hallum

Desktop Metal (NYSE:DM)‘s stock had its “hold” rating reissued by investment analysts at Craig Hallum in a research note issued to investors on Monday, Benzinga reports.

DM has been the topic of several other research reports. Cantor Fitzgerald increased their price target on shares of Desktop Metal from $1.25 to $12.50 and gave the stock an “overweight” rating in a research report on Tuesday, June 11th. StockNews.com assumed coverage on shares of Desktop Metal in a research report on Tuesday, June 18th. They set a “sell” rating on the stock.

Desktop Metal Trading Down 3.9 %

NYSE DM traded down $0.16 during trading hours on Monday, reaching $3.97. The company had a trading volume of 473,577 shares, compared to its average volume of 416,723. The stock has a 50-day moving average of $5.96 and a 200 day moving average of $6.67. Desktop Metal has a 1-year low of $3.62 and a 1-year high of $20.00. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $131.17 million, a P/E ratio of -0.40 and a beta of 0.61.

Desktop Metal (NYSE:DM) last posted its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) EPS for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. The company had revenue of $40.60 million during the quarter. During the same quarter in the prior year, the firm earned ($1.10) earnings per share. As a group, research analysts anticipate that Desktop Metal will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jason M. Cole sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $6.20, for a total transaction of $111,600.00. Following the sale, the chief financial officer now directly owns 87,168 shares in the company, valued at $540,441.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On Desktop Metal

Several hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC purchased a new position in Desktop Metal in the first quarter valued at approximately $281,000. Levin Capital Strategies L.P. purchased a new position in Desktop Metal in the first quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD increased its stake in Desktop Metal by 66.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 158,872 shares during the last quarter. Keating Investment Counselors Inc. purchased a new position in Desktop Metal in the first quarter valued at approximately $72,000. Finally, SG Americas Securities LLC increased its stake in Desktop Metal by 4,740.2% in the first quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock valued at $840,000 after purchasing an additional 934,632 shares during the last quarter. 56.31% of the stock is currently owned by hedge funds and other institutional investors.

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.