Steward Partners Investment Advisory LLC Acquires 7,004 Shares of Desktop Metal, Inc. (NYSE:DM)

Steward Partners Investment Advisory LLC raised its holdings in Desktop Metal, Inc. (NYSE:DMGet Rating) by 32.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,819 shares of the pipeline company’s stock after buying an additional 7,004 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Desktop Metal were worth $137,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. raised its stake in Desktop Metal by 73.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 8,058 shares of the pipeline company’s stock valued at $41,000 after buying an additional 3,416 shares during the last quarter. Rothschild Investment Corp IL purchased a new position in Desktop Metal during the first quarter valued at $47,000. Shay Capital LLC purchased a new position in shares of Desktop Metal in the fourth quarter worth $54,000. Blair William & Co. IL purchased a new position in shares of Desktop Metal in the fourth quarter worth $65,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Desktop Metal by 189.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,807 shares of the pipeline company’s stock worth $73,000 after purchasing an additional 9,692 shares during the last quarter. 39.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Desktop Metal to a “sell” rating in a research note on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.00.

Desktop Metal Stock Performance

Desktop Metal stock opened at $2.13 on Tuesday. The stock has a market cap of $667.67 million, a PE ratio of -2.37 and a beta of 0.50. Desktop Metal, Inc. has a one year low of $1.26 and a one year high of $9.82. The stock has a fifty day moving average of $2.23 and a 200 day moving average of $3.31.

Desktop Metal (NYSE:DMGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The pipeline company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $43.71 million for the quarter, compared to analysts’ expectations of $42.53 million. Desktop Metal had a negative net margin of 173.46% and a negative return on equity of 14.59%. As a group, sell-side analysts predict that Desktop Metal, Inc. will post -0.35 EPS for the current fiscal year.

Desktop Metal Profile

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Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.

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Institutional Ownership by Quarter for Desktop Metal (NYSE:DM)

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