Wall Street Zen Begins Coverage on Desktop Metal (NYSE:DM)

Equities research analysts at Wall Street Zen initiated coverage on shares of Desktop Metal (NYSE:DM) in a report issued on Wednesday. The firm set a “hold” rating on the pipeline company’s stock.

Desktop Metal Price Performance

Desktop Metal stock opened at $4.96 on Wednesday. Desktop Metal has a 12 month low of $1.84 and a 12 month high of $6.08. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The business has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $3.58. The stock has a market capitalization of $165.37 million, a PE ratio of -0.44 and a beta of 0.17.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Desktop Metal in the fourth quarter worth $90,000. Renaissance Technologies LLC raised its position in Desktop Metal by 65.5% in the fourth quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock worth $118,000 after acquiring an additional 19,900 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Desktop Metal in the fourth quarter worth $51,000. Marshall Wace LLP purchased a new position in Desktop Metal in the fourth quarter worth $256,000. Finally, LMR Partners LLP purchased a new position in Desktop Metal in the fourth quarter worth $585,000. Hedge funds and other institutional investors 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.