Desktop Metal, Inc. (NYSE:DM) Shares Sold by Sculptor Capital LP

Sculptor Capital LP lessened its stake in Desktop Metal, Inc. (NYSE:DM) by 90.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,190 shares of the pipeline company’s stock after selling 127,710 shares during the period. Sculptor Capital LP’s holdings in Desktop Metal were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DM. Headlands Technologies LLC purchased a new position in shares of Desktop Metal in the 2nd quarter valued at about $25,000. Point72 DIFC Ltd purchased a new stake in shares of Desktop Metal in the second quarter valued at approximately $68,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Desktop Metal in the second quarter valued at approximately $150,000. Levin Capital Strategies L.P. purchased a new stake in shares of Desktop Metal in the first quarter valued at approximately $35,000. Finally, AQR Capital Management LLC lifted its holdings in Desktop Metal by 217.8% in the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after acquiring an additional 40,478 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

Desktop Metal Price Performance

Shares of NYSE:DM opened at $4.65 on Friday. The company has a 50-day moving average price of $4.50 and a 200 day moving average price of $5.84. Desktop Metal, Inc. has a 52 week low of $3.62 and a 52 week high of $15.30. The company has a quick ratio of 1.31, a current ratio of 2.60 and a debt-to-equity ratio of 1.13. The company has a market cap of $154.66 million, a P/E ratio of -0.47 and a beta of 0.61.

Desktop Metal (NYSE:DM) last issued its quarterly earnings data on Tuesday, July 30th. The pipeline company reported ($0.53) earnings per share for the quarter. The business had revenue of $38.93 million for the quarter. Desktop Metal had a negative return on equity of 35.69% and a negative net margin of 215.57%. Research analysts predict that Desktop Metal, Inc. will post -2.15 earnings per share for the current year.

Insider Buying and Selling at Desktop Metal

In related news, CFO Jason M. Cole sold 24,064 shares of Desktop Metal stock in a transaction on Monday, August 5th. The shares were sold at an average price of $4.23, for a total transaction of $101,790.72. Following the transaction, the chief financial officer now owns 69,352 shares in the company, valued at approximately $293,358.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.22% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on DM shares. StockNews.com began coverage on Desktop Metal in a research note on Tuesday, June 18th. They set a “sell” rating on the stock. Craig Hallum reissued a “hold” rating on shares of Desktop Metal in a report on Monday, July 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $5.50 price objective (down previously from $12.50) on shares of Desktop Metal in a report on Monday, July 8th.

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.