StockNews.com Upgrades Desktop Metal (NYSE:DM) to Hold

Desktop Metal (NYSE:DM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Desktop Metal Stock Performance

NYSE:DM opened at $4.15 on Monday. Desktop Metal has a fifty-two week low of $3.62 and a fifty-two week high of $11.80. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The company has a 50 day moving average price of $4.64 and a 200 day moving average price of $4.68. The stock has a market capitalization of $138.36 million, a P/E ratio of -0.37 and a beta of 0.55.

Hedge Funds Weigh In On Desktop Metal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Desktop Metal in the second quarter valued at $25,000. Point72 DIFC Ltd purchased a new position in shares of Desktop Metal in the 2nd quarter valued at about $68,000. Cubist Systematic Strategies LLC purchased a new position in shares of Desktop Metal in the 2nd quarter valued at about $150,000. XTX Topco Ltd acquired a new stake in shares of Desktop Metal during the 3rd quarter worth about $214,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Desktop Metal during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.

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.