StockNews.com upgraded shares of Desktop Metal (NYSE:DM – Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.
Desktop Metal Stock Performance
Shares of Desktop Metal stock opened at $4.91 on Friday. 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 simple moving average of $2.58 and a 200 day simple moving average of $3.51. Desktop Metal has a fifty-two week low of $1.84 and a fifty-two week high of $11.80. The firm has a market cap of $163.54 million, a P/E ratio of -0.44 and a beta of 0.70.
Hedge Funds Weigh In On Desktop Metal
Several large investors have recently made changes to their positions in DM. Cigogne Management SA bought a new stake in Desktop Metal during the 4th quarter worth about $702,000. LMR Partners LLP bought a new stake in shares of Desktop Metal during the fourth quarter worth approximately $585,000. Murchinson Ltd. acquired a new position in Desktop Metal in the third quarter valued at approximately $972,000. Credit Industriel ET Commercial bought a new position in Desktop Metal in the fourth quarter valued at approximately $485,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in Desktop Metal by 247.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 284,068 shares of the pipeline company’s stock valued at $665,000 after acquiring an additional 202,368 shares during the last quarter. Institutional investors and hedge funds 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.
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