Cubist Systematic Strategies LLC Invests $150,000 in Desktop Metal, Inc. (NYSE:DM)

Cubist Systematic Strategies LLC bought a new position in Desktop Metal, Inc. (NYSE:DM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,340 shares of the pipeline company’s stock, valued at approximately $150,000. Cubist Systematic Strategies LLC owned about 0.11% of Desktop Metal as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Desktop Metal by 4,740.2% in the 1st quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock worth $840,000 after purchasing an additional 934,632 shares during the period. Cetera Advisors LLC purchased a new stake in Desktop Metal in the 1st quarter worth about $281,000. Price T Rowe Associates Inc. MD boosted its position in Desktop Metal by 66.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock worth $350,000 after acquiring an additional 158,872 shares during the period. Clearline Capital LP acquired a new position in shares of Desktop Metal in the 2nd quarter valued at about $381,000. Finally, Keating Investment Counselors Inc. purchased a new stake in shares of Desktop Metal in the first quarter worth approximately $72,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Desktop Metal Price Performance

Shares of DM opened at $4.89 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 2.60. The firm has a market cap of $162.64 million, a PE ratio of -0.42 and a beta of 0.61. The firm’s 50 day moving average price is $4.50 and its 200 day moving average price is $5.59. Desktop Metal, Inc. has a twelve month low of $3.62 and a twelve month high of $12.60.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Desktop Metal

In other news, CFO Jason M. Cole sold 24,064 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $4.23, for a total value of $101,790.72. Following the completion of the sale, the chief financial officer now directly owns 69,352 shares in the company, valued at approximately $293,358.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.22% of the stock is owned by company insiders.

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.