Investors Purchase High Volume of Put Options on Desktop Metal (NYSE:DM)

Desktop Metal, Inc. (NYSE:DM) saw some unusual options trading activity on Monday. Stock traders purchased 30,061 put options on the company. This represents an increase of 2,418% compared to the typical daily volume of 1,194 put options.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DM shares. Cantor Fitzgerald assumed coverage on shares of Desktop Metal in a research note on Wednesday, February 28th. They set an “overweight” rating and a $1.25 price objective on the stock. StockNews.com started coverage on Desktop Metal in a research note on Saturday, March 2nd. They set a “sell” rating on the stock.

Desktop Metal Stock Down 3.7 %

Shares of NYSE:DM opened at $1.04 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47. The firm has a market cap of $342.83 million, a price-to-earnings ratio of -1.05 and a beta of 0.68. The stock’s 50-day moving average price is $0.68 and its two-hundred day moving average price is $0.80. Desktop Metal has a 12-month low of $0.46 and a 12-month high of $2.37.

Desktop Metal (NYSE:DM) last announced its quarterly earnings data on Friday, March 15th. The pipeline company reported ($0.05) earnings per share for the quarter. Desktop Metal had a negative return on equity of 29.25% and a negative net margin of 170.41%. The company had revenue of $52.35 million for the quarter. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, research analysts forecast that Desktop Metal will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Desktop Metal

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Desktop Metal by 5.7% in the 2nd quarter. BlackRock Inc. now owns 22,026,711 shares of the pipeline company’s stock valued at $38,987,000 after acquiring an additional 1,193,623 shares during the period. Vanguard Group Inc. raised its position in Desktop Metal by 3.2% in the third quarter. Vanguard Group Inc. now owns 21,673,313 shares of the pipeline company’s stock valued at $56,134,000 after purchasing an additional 675,320 shares during the period. State Street Corp lifted its stake in shares of Desktop Metal by 22.5% during the second quarter. State Street Corp now owns 8,197,161 shares of the pipeline company’s stock worth $14,509,000 after purchasing an additional 1,506,484 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Desktop Metal by 5.9% in the second quarter. Geode Capital Management LLC now owns 5,104,043 shares of the pipeline company’s stock worth $9,034,000 after buying an additional 284,764 shares during the period. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Desktop Metal

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.