Desktop Metal, Inc. (NYSE:DM) Shares Bought by Olympiad Research LP

Olympiad Research LP raised its stake in Desktop Metal, Inc. (NYSE:DM) by 99.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 203,252 shares of the pipeline company’s stock after purchasing an additional 101,419 shares during the quarter. Olympiad Research LP owned about 0.61% of Desktop Metal worth $476,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DM. ARK Investment Management LLC lifted 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 valued at $3,559,000 after acquiring an additional 251,156 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of Desktop Metal during the 3rd quarter valued at $972,000. XTX Topco Ltd acquired a new position in shares of Desktop Metal during the 3rd quarter valued at $214,000. Finally, ABC Arbitrage SA acquired a new position in shares of Desktop Metal during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 56.31% of the company’s stock.

Desktop Metal Stock Performance

NYSE:DM opened at $2.24 on Friday. Desktop Metal, Inc. has a twelve month low of $2.02 and a twelve month high of $11.80. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $74.51 million, a price-to-earnings ratio of -0.20 and a beta of 0.64. The firm’s fifty day simple moving average is $2.56 and its 200 day simple moving average is $3.80.

Wall Street Analyst Weigh In

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

Desktop Metal 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.