Short Interest in Desktop Metal, Inc. (NYSE:DM) Declines By 90.3%

Desktop Metal, Inc. (NYSE:DMGet Free Report) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 5,780,000 shares, a decline of 90.3% from the May 15th total of 59,880,000 shares. Currently, 28.2% of the company’s shares are short sold. Based on an average trading volume of 302,400 shares, the short-interest ratio is presently 19.1 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on DM. Cantor Fitzgerald raised their price target on Desktop Metal from $1.25 to $12.50 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com started coverage on Desktop Metal in a report on Saturday, March 2nd. They set a “sell” rating for the company.

View Our Latest Analysis on Desktop Metal

Desktop Metal Stock Down 2.0 %

DM traded down $0.08 during trading hours on Friday, hitting $3.84. 375,382 shares of the company’s stock were exchanged, compared to its average volume of 340,261. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57. Desktop Metal has a 12-month low of $3.76 and a 12-month high of $22.05. The firm has a market cap of $126.87 million, a P/E ratio of -0.40 and a beta of 0.64. The firm has a 50 day moving average of $7.11 and a 200 day moving average of $6.91.

Desktop Metal (NYSE:DMGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. The company had revenue of $40.60 million during the quarter. During the same quarter in the prior year, the firm posted ($1.10) EPS. Analysts predict that Desktop Metal will post -1.5 EPS for the current fiscal year.

Insider Transactions at Desktop Metal

In other news, CFO Jason M. Cole sold 18,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total transaction of $111,600.00. Following the completion of the transaction, the chief financial officer now directly owns 87,168 shares in the company, valued at approximately $540,441.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On Desktop Metal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Desktop Metal by 39.2% in the third quarter. Principal Financial Group Inc. now owns 41,466 shares of the pipeline company’s stock valued at $61,000 after buying an additional 11,676 shares during the last quarter. Pathstone Family Office LLC acquired a new position in Desktop Metal in the third quarter valued at approximately $63,000. Lazard Asset Management LLC raised its holdings in Desktop Metal by 41.1% during the third quarter. Lazard Asset Management LLC now owns 1,357,784 shares of the pipeline company’s stock worth $1,982,000 after purchasing an additional 395,373 shares in the last quarter. DNB Asset Management AS purchased a new stake in shares of Desktop Metal during the 4th quarter worth approximately $570,000. Finally, ARK Investment Management LLC boosted its holdings in shares of Desktop Metal by 15.2% in the 4th quarter. ARK Investment Management LLC now owns 3,958,202 shares of the pipeline company’s stock valued at $2,973,000 after buying an additional 522,677 shares in the last quarter. Hedge funds and other institutional investors own 56.31% of the company’s stock.

Desktop Metal Company Profile

(Get Free Report)

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.

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