Desktop Metal (NYSE:DM) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Desktop Metal (NYSE:DM) from a hold rating to a sell rating in a report issued on Friday.

Desktop Metal Stock Up 4.3 %

Desktop Metal stock opened at $2.68 on Friday. The firm has a 50 day simple moving average of $2.84 and a 200 day simple moving average of $3.95. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. Desktop Metal has a 1-year low of $2.02 and a 1-year high of $11.80. The firm has a market capitalization of $89.38 million, a price-to-earnings ratio of -0.24 and a beta of 0.64.

Institutional Investors Weigh In On Desktop Metal

Hedge funds and other institutional investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new stake in shares of Desktop Metal in the fourth quarter worth $27,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Desktop Metal in the 2nd quarter valued at about $150,000. XTX Topco Ltd purchased a new stake in shares of Desktop Metal in the 3rd quarter valued at about $214,000. AQR Capital Management LLC boosted its position in shares of Desktop Metal by 217.8% during the 2nd 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 last quarter. Finally, Olympiad Research LP grew its holdings in shares of Desktop Metal by 99.6% during 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. 56.31% of the stock is currently owned by institutional investors.

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.