Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,380,000 shares, an increase of 8.2% from the December 15th total of 2,200,000 shares. Currently, 12.7% of the shares of the stock are sold short. Based on an average daily volume of 283,200 shares, the short-interest ratio is presently 8.4 days.

Desktop Metal Price Performance

NYSE DM traded down $0.24 during trading hours on Friday, reaching $2.20. 545,380 shares of the company’s stock were exchanged, compared to its average volume of 326,641. The firm has a fifty day moving average of $3.41 and a 200-day moving average of $4.24. Desktop Metal has a one year low of $2.18 and a one year 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in Desktop Metal in the 2nd quarter worth approximately $68,000. Cubist Systematic Strategies LLC bought a new stake in shares of Desktop Metal during the second quarter worth $150,000. AQR Capital Management LLC lifted its stake in shares of Desktop Metal by 217.8% during the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after acquiring an additional 40,478 shares during the period. XTX Topco Ltd bought a new position in Desktop Metal in the third quarter valued at about $214,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Desktop Metal in the second quarter worth about $208,000. 56.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.