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

Desktop Metal, Inc. (NYSE:DM)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.05 and traded as low as $2.25. Desktop Metal shares last traded at $2.34, with a volume of 297,348 shares.

Wall Street Analysts Forecast Growth

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

Desktop Metal Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The firm has a 50-day moving average of $3.94 and a 200-day moving average of $4.38. The stock has a market cap of $89.69 million, a PE ratio of -0.24 and a beta of 0.55.

Institutional Trading of Desktop Metal

Several hedge funds and other institutional investors have recently made changes to their positions in DM. Headlands Technologies LLC purchased a new position in shares of Desktop Metal in the 2nd quarter valued at about $25,000. Point72 DIFC Ltd purchased a new position in Desktop Metal during the second quarter worth about $68,000. Cubist Systematic Strategies LLC purchased a new stake in Desktop Metal in the second quarter valued at $150,000. AQR Capital Management LLC increased its holdings in Desktop Metal by 217.8% in the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 40,478 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Desktop Metal during the third quarter worth about $214,000. Hedge funds and other institutional investors 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.