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 to clients and investors on Thursday.

Desktop Metal Stock Performance

DM opened at $3.73 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The company has a market capitalization of $124.36 million, a PE ratio of -0.33 and a beta of 0.55. The business has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.57. Desktop Metal has a 1 year low of $3.62 and a 1 year high of $11.80.

Institutional Investors Weigh In On Desktop Metal

A number of hedge funds and other institutional investors have recently made changes to their positions in DM. ARK Investment Management LLC grew its position in Desktop Metal by 49.1% during the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock worth $3,559,000 after buying an additional 251,156 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 158,872 shares during the period. Cetera Advisors LLC bought a new stake in shares of Desktop Metal during the 1st quarter valued at $281,000. Murchinson Ltd. acquired a new stake in shares of Desktop Metal during the 3rd quarter worth $972,000. Finally, Olympiad Research LP bought a new position in shares of Desktop Metal in the third quarter worth $476,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

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.