Desktop Metal (NYSE:DM) Stock Crosses Below 200-Day Moving Average – What’s Next?

Shares of Desktop Metal, Inc. (NYSE:DM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.44 and traded as low as $4.89. Desktop Metal shares last traded at $4.89, with a volume of 114,785 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Craig Hallum restated a “hold” rating on shares of Desktop Metal in a research report on Monday, July 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $5.50 target price (down from $12.50) on shares of Desktop Metal in a research note on Monday, July 8th.

Desktop Metal Trading Up 0.6 %

The stock has a market cap of $161.90 million, a PE ratio of -0.49 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 2.60. The company has a 50 day moving average of $4.61 and a two-hundred day moving average of $5.37.

Desktop Metal (NYSE:DM) last issued its quarterly earnings data on Tuesday, July 30th. The pipeline company reported ($0.53) EPS for the quarter. The business had revenue of $38.93 million during the quarter. Desktop Metal had a negative net margin of 215.57% and a negative return on equity of 35.69%. Sell-side analysts anticipate that Desktop Metal, Inc. will post -2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason M. Cole sold 24,064 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $4.23, for a total transaction of $101,790.72. Following the completion of the sale, the chief financial officer now owns 69,352 shares of the company’s stock, valued at $293,358.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Desktop Metal

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Desktop Metal in the 2nd quarter valued at $25,000. Levin Capital Strategies L.P. purchased a new stake in shares of Desktop Metal during the first quarter worth $35,000. Empowered Funds LLC acquired a new stake in shares of Desktop Metal in the first quarter valued at about $45,000. Point72 DIFC Ltd acquired a new stake in shares of Desktop Metal in the second quarter valued at about $68,000. Finally, Keating Investment Counselors Inc. purchased a new position in shares of Desktop Metal in the first quarter worth about $72,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.

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.