Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,440,000 shares, a drop of 12.2% from the November 15th total of 2,780,000 shares. Approximately 13.0% of the shares of the stock are sold short. Based on an average daily volume of 246,400 shares, the short-interest ratio is currently 9.9 days.

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 Trading Down 5.2 %

Shares of DM stock traded down $0.19 during mid-day trading on Tuesday, hitting $3.43. 463,061 shares of the company’s stock were exchanged, compared to its average volume of 399,022. Desktop Metal has a fifty-two week low of $3.23 and a fifty-two week high of $11.80. The stock has a 50-day simple moving average of $4.45 and a two-hundred day simple moving average of $4.53. 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 stock has a market cap of $114.36 million, a price-to-earnings ratio of -0.31 and a beta of 0.55.

Institutional Investors Weigh In On Desktop Metal

A number of institutional investors have recently added to or reduced their stakes in DM. Cetera Advisors LLC purchased a new stake in Desktop Metal during the first quarter valued at about $281,000. Summit Securities Group LLC purchased a new stake in Desktop Metal during the second quarter valued at about $258,000. Headlands Technologies LLC purchased a new stake in shares of Desktop Metal in the second quarter worth about $25,000. Point72 DIFC Ltd purchased a new stake in shares of Desktop Metal in the second quarter worth about $68,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Desktop Metal in the second quarter worth about $150,000. Hedge funds and other institutional investors own 56.31% 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 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.