Desktop Metal (NYSE:DM) Cut to Sell at StockNews.com

Desktop Metal (NYSE:DM) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Desktop Metal Stock Performance

DM traded up $0.11 during midday trading on Friday, hitting $2.68. 121,374 shares of the company were exchanged, compared to its average volume of 308,939. The company’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $3.96. The firm has a market capitalization of $89.38 million, a price-to-earnings ratio of -0.24 and a beta of 0.64. 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.

Institutional Investors Weigh In On Desktop Metal

A number of institutional investors have recently modified their holdings of the business. ABC Arbitrage SA acquired a new stake in shares of Desktop Metal during the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC purchased a new position in Desktop Metal in the 2nd quarter valued at about $150,000. AQR Capital Management LLC lifted its stake in Desktop Metal by 217.8% in the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after buying an additional 40,478 shares in the last quarter. XTX Topco Ltd purchased a new position in Desktop Metal in the 3rd quarter valued at about $214,000. Finally, Olympiad Research LP lifted its stake in Desktop Metal by 99.6% in the 4th quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after buying an additional 101,419 shares in the last quarter. 56.31% of the stock is currently owned by institutional investors and hedge funds.

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.