Desktop Metal (NYSE:DM) Shares Down 9.8%

Shares of Desktop Metal, Inc. (NYSE:DM – Get Rating) traded down 9.8% during mid-day trading on Friday . The company traded as low as $2.00 and last traded at $2.03. 1,920,514 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 4,435,784 shares. The stock had previously closed at $2.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Credit Suisse Group restated a “neutral” rating and issued a $2.20 price objective on shares of Desktop Metal in a research note on Monday, March 6th. Morgan Stanley increased their price objective on shares of Desktop Metal from $1.75 to $1.90 and gave the company an “overweight” rating in a research note on Friday, March 3rd. JPMorgan Chase & Co. assumed coverage on shares of Desktop Metal in a research note on Friday, December 16th. They issued a “neutral” rating for the company. Finally, StockNews.com upgraded shares of Desktop Metal to a “sell” rating in a research note on Friday, February 10th.

Desktop Metal Trading Down 8.4 %

The company’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.13. The company has a current ratio of 4.03, a quick ratio of 2.93 and a debt-to-equity ratio of 0.21. The firm has a market cap of $656.75 million, a P/E ratio of -0.88 and a beta of 0.54.

Insider Transactions at Desktop Metal

In other news, Director Scott J. Dussault sold 26,969 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $2.40, for a total value of $64,725.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Desktop Metal

A number of hedge funds have recently added to or reduced their stakes in DM. Mackenzie Financial Corp acquired a new position in Desktop Metal during the 2nd quarter valued at about $25,000. Beacon Pointe Advisors LLC acquired a new position in Desktop Metal during the 2nd quarter valued at about $25,000. Capital Investment Advisors LLC acquired a new position in Desktop Metal during the 3rd quarter valued at about $26,000. Belpointe Asset Management LLC acquired a new position in Desktop Metal during the 4th quarter valued at about $26,000. Finally, Pacer Advisors Inc. lifted its position in Desktop Metal by 53.5% during the 4th quarter. Pacer Advisors Inc. now owns 19,995 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 6,970 shares during the period. Institutional investors own 42.58% of the company’s stock.

About Desktop Metal

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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.