Desktop Metal (NYSE:DM) Shares Pass Above 50-Day Moving Average – Should You Sell?

Desktop Metal, Inc. (NYSE:DM) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.34 and traded as high as $2.49. Desktop Metal shares last traded at $2.21, with a volume of 256,895 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Desktop Metal from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

Desktop Metal Trading Down 8.7 %

The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. The stock has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $3.53. The firm has a market capitalization of $73.68 million, a P/E ratio of -0.20 and a beta of 0.70.

Institutional Investors Weigh In On Desktop Metal

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cigogne Management SA purchased a new position in shares of Desktop Metal in the 4th quarter valued at $702,000. LMR Partners LLP purchased a new position in shares of Desktop Metal in the 4th quarter valued at $585,000. Murchinson Ltd. purchased a new position in shares of Desktop Metal in the 3rd quarter valued at $972,000. Credit Industriel ET Commercial purchased a new position in Desktop Metal during the 4th quarter worth $485,000. Finally, OMERS ADMINISTRATION Corp grew its stake in Desktop Metal by 247.7% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 284,068 shares of the pipeline company’s stock worth $665,000 after buying an additional 202,368 shares during the last quarter. 56.31% of the stock is owned by institutional investors.

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.