Desktop Metal Target of Unusually High Options Trading (NYSE:DM)

Desktop Metal, Inc. (NYSE:DM) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 5,257 call options on the company. This is an increase of approximately 1,415% compared to the typical daily volume of 347 call options.

Desktop Metal Stock Performance

Shares of NYSE DM opened at $4.57 on Thursday. The stock has a market cap of $152.20 million, a price-to-earnings ratio of -0.41 and a beta of 0.70. The stock’s 50-day moving average is $2.42 and its 200 day moving average is $3.51. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. Desktop Metal has a 1-year low of $1.84 and a 1-year high of $11.80.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Desktop Metal

Several institutional investors and hedge funds have recently made changes to their positions in DM. Murchinson Ltd. purchased a new stake in Desktop Metal during the third quarter valued at about $972,000. XTX Topco Ltd bought a new stake in shares of Desktop Metal in the 3rd quarter valued at about $214,000. ABC Arbitrage SA purchased a new stake in Desktop Metal during the 4th quarter valued at about $27,000. Olympiad Research LP grew its position in Desktop Metal by 99.6% during the 4th quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock worth $476,000 after acquiring an additional 101,419 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Desktop Metal in the 4th quarter worth approximately $90,000. 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.