Desktop Metal (NYSE:DM) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of Desktop Metal, Inc. (NYSE:DM) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.44 and traded as low as $4.89. Desktop Metal shares last traded at $4.89, with a volume of 114,785 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DM shares. Craig Hallum reaffirmed a “hold” rating on shares of Desktop Metal in a report on Monday, July 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.50 price objective (down from $12.50) on shares of Desktop Metal in a research report on Monday, July 8th.

Desktop Metal Trading Up 0.4 %

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 $161.57 million, a PE ratio of -0.49 and a beta of 0.61. The stock has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $5.41.

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

Insider Activity

In other Desktop Metal news, CFO Jason M. Cole sold 24,064 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $4.23, for a total value of $101,790.72. Following the transaction, the chief financial officer now directly owns 69,352 shares of the company’s stock, valued at approximately $293,358.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

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