Desktop Metal’s (DM) Hold Rating Reaffirmed at Craig Hallum

Craig Hallum reissued their hold rating on shares of Desktop Metal (NYSE:DM) in a research report sent to investors on Monday morning, Benzinga reports.

Other equities research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Desktop Metal in a research note on Tuesday, June 18th. They issued a sell rating on the stock. Cantor Fitzgerald raised their price objective on shares of Desktop Metal from $1.25 to $12.50 and gave the company an overweight rating in a research note on Tuesday, June 11th.

Desktop Metal Price Performance

Shares of NYSE:DM opened at $4.06 on Monday. The firm has a 50 day moving average of $5.87 and a 200-day moving average of $6.65. The stock has a market capitalization of $134.14 million, a PE ratio of -0.41 and a beta of 0.61. Desktop Metal has a 12 month low of $3.62 and a 12 month high of $20.00. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57.

Desktop Metal (NYSE:DM) last posted its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share for the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. The business had revenue of $40.60 million for the quarter. During the same quarter last year, the firm earned ($1.10) earnings per share. On average, equities research analysts predict that Desktop Metal will post -1.46 EPS for the current fiscal year.

Insider Transactions at Desktop Metal

In related news, CFO Jason M. Cole sold 18,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $6.20, for a total transaction of $111,600.00. Following the completion of the sale, the chief financial officer now directly owns 87,168 shares in the company, valued at approximately $540,441.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DM. Summit Financial LLC grew its position in shares of Desktop Metal by 8.8% in the 1st quarter. Summit Financial LLC now owns 344,574 shares of the pipeline company’s stock worth $303,000 after buying an additional 27,754 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Desktop Metal in the 1st quarter worth about $35,000. Empowered Funds LLC purchased a new stake in shares of Desktop Metal in the 1st quarter worth about $45,000. Keating Investment Counselors Inc. purchased a new stake in shares of Desktop Metal in the 1st quarter worth about $72,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Desktop Metal by 66.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock worth $350,000 after buying an additional 158,872 shares during the period. 56.31% of the stock is owned by hedge funds and other institutional investors.

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.