Stock Traders Purchase High Volume of Call Options on Desktop Metal (NYSE:DM)

Desktop Metal, Inc. (NYSE:DM) saw unusually large options trading activity on Tuesday. Traders purchased 5,257 call options on the company. This represents an increase of 1,415% compared to the typical daily volume of 347 call options.

Institutional Investors Weigh In On Desktop Metal

Several large investors have recently made changes to their positions in the company. Murchinson Ltd. bought a new position in Desktop Metal in the 3rd quarter worth approximately $972,000. Olympiad Research LP grew its stake in shares of Desktop Metal by 99.6% in the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock worth $476,000 after purchasing an additional 101,419 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Desktop Metal during the fourth quarter valued at $27,000. XTX Topco Ltd acquired a new position in shares of Desktop Metal during the third quarter valued at $214,000. Finally, Renaissance Technologies LLC lifted its holdings in Desktop Metal by 65.5% in the fourth quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 19,900 shares during the period. Institutional investors and hedge funds own 56.31% of the company’s stock.

Desktop Metal Stock Performance

Shares of DM stock traded up $2.05 during trading hours on Tuesday, reaching $4.32. The stock had a trading volume of 24,531,229 shares, compared to its average volume of 375,894. The firm has a market capitalization of $143.93 million, a PE ratio of -0.37 and a beta of 0.70. The firm has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $3.50. Desktop Metal has a twelve month low of $1.84 and a twelve month high of $11.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

Analyst Ratings Changes

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

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.