StockNews.com Initiates Coverage on Desktop Metal (NYSE:DM)

Stock analysts at StockNews.com assumed coverage on shares of Desktop Metal (NYSE:DM) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the pipeline company’s stock.

Desktop Metal Price Performance

Shares of DM opened at $4.96 on Friday. The firm has a market cap of $165.37 million, a PE ratio of -0.44 and a beta of 0.17. Desktop Metal has a 52-week low of $1.84 and a 52-week high of $9.40. The business’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $3.55. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34.

Institutional Investors Weigh In On Desktop Metal

Hedge funds and other institutional investors have recently modified their holdings of the company. ABC Arbitrage SA purchased a new stake in shares of Desktop Metal in the fourth quarter worth approximately $27,000. Squarepoint Ops LLC bought a new stake in Desktop Metal during the fourth quarter worth $41,000. Fifth Lane Capital LP bought a new position in Desktop Metal during the 4th quarter valued at $42,000. Cresset Asset Management LLC purchased a new position in Desktop Metal during the 4th quarter worth $51,000. Finally, Virtu Financial LLC bought a new stake in shares of Desktop Metal in the 4th quarter worth $90,000. 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.