Desktop Metal (NYSE:DM) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Desktop Metal, Inc. (NYSE:DM)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.59 and traded as low as $4.88. Desktop Metal shares last traded at $4.89, with a volume of 113,313 shares.

Analyst Upgrades and Downgrades

DM has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Desktop Metal in a report on Tuesday, June 18th. They set a “sell” rating for the company. Craig Hallum restated a “hold” rating on shares of Desktop Metal in a research note on Monday, July 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.50 price target (down previously from $12.50) on shares of Desktop Metal in a report on Monday, July 8th.

Desktop Metal Price Performance

The firm has a 50 day moving average price of $4.50 and a two-hundred day moving average price of $5.59. The company has a market cap of $162.64 million, a P/E ratio of -0.42 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 2.60.

Desktop Metal (NYSE:DM) last posted its quarterly earnings results 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%. On average, analysts predict that Desktop Metal, Inc. will post -2.15 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jason M. Cole sold 24,064 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $4.23, for a total transaction of $101,790.72. Following the sale, the chief financial officer now directly owns 69,352 shares in the company, valued at $293,358.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 14.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DM. Clearline Capital LP bought a new position in shares of Desktop Metal in the second quarter worth approximately $381,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Desktop Metal in the 2nd quarter worth $208,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Desktop Metal during the 2nd quarter valued at $229,000. Point72 DIFC Ltd bought a new stake in shares of Desktop Metal during the 2nd quarter worth $68,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Desktop Metal in the second quarter worth $150,000. Institutional investors own 56.31% of the company’s stock.

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.