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

StockNews.com upgraded shares of Desktop Metal (NYSE:DM) from a sell rating to a hold rating in a report issued on Saturday morning.

Desktop Metal Stock Up 3.0 %

Desktop Metal stock opened at $4.99 on Friday. The business’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $3.52. The company has a market cap of $166.20 million, a PE ratio of -0.45 and a beta of 0.70. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. Desktop Metal has a fifty-two week low of $1.84 and a fifty-two week high of $11.80.

Institutional Investors Weigh In On Desktop Metal

Hedge funds have recently bought and sold shares of the stock. ABC Arbitrage SA acquired a new position in shares of Desktop Metal during the 4th quarter worth approximately $27,000. Squarepoint Ops LLC purchased a new stake in Desktop Metal in the 4th quarter valued at $41,000. Fifth Lane Capital LP acquired a new position in Desktop Metal in the 4th quarter valued at about $42,000. Cresset Asset Management LLC purchased a new position in Desktop Metal in the fourth quarter worth approximately $51,000. Finally, Virtu Financial LLC purchased a new position in shares of Desktop Metal during the 4th quarter worth $90,000. 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.