StockNews.com Downgrades Desktop Metal (NYSE:DM) to Sell

StockNews.com lowered shares of Desktop Metal (NYSE:DM) from a hold rating to a sell rating in a research report report published on Friday.

Desktop Metal Trading Up 4.3 %

Shares of Desktop Metal stock opened at $2.68 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. Desktop Metal has a fifty-two week low of $2.02 and a fifty-two week high of $11.80. The business’s fifty day moving average is $2.84 and its two-hundred day moving average is $3.96.

Institutional Trading of Desktop Metal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its holdings in shares of Desktop Metal by 49.1% during the 3rd 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 during the last quarter. Murchinson Ltd. purchased a new stake in Desktop Metal during the third quarter valued at about $972,000. Olympiad Research LP increased its stake in Desktop Metal by 99.6% during the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock worth $476,000 after acquiring an additional 101,419 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Desktop Metal by 217.8% in the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock worth $244,000 after purchasing an additional 40,478 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Desktop Metal in the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.

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.