Desktop Metal, Inc. (NYSE:DM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Desktop Metal, Inc. (NYSE:DM) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 260,541 shares of the pipeline company’s stock after selling 8,066 shares during the quarter. Geode Capital Management LLC’s holdings in Desktop Metal were worth $1,217,000 as of its most recent filing with the SEC.

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

Desktop Metal Stock Down 5.9 %

Shares of NYSE:DM opened at $2.72 on Friday. Desktop Metal, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $11.80. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. The firm’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $4.32. The company has a market cap of $90.69 million, a price-to-earnings ratio of -0.24 and a beta of 0.64.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

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.