Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DMGet Rating) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 57,350,000 shares, an increase of 124.5% from the April 30th total of 25,540,000 shares. Based on an average daily volume of 9,300,000 shares, the days-to-cover ratio is currently 6.2 days. Currently, 26.5% of the company’s stock are short sold.

In other Desktop Metal news, CEO Ric Fulop bought 128,850 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were acquired at an average cost of $4.08 per share, with a total value of $525,708.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.25% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of DM. BlackRock Inc. boosted its position in shares of Desktop Metal by 55.2% during the fourth quarter. BlackRock Inc. now owns 14,855,242 shares of the pipeline company’s stock worth $73,533,000 after buying an additional 5,281,744 shares during the period. Waldron Private Wealth LLC acquired a new stake in Desktop Metal in the fourth quarter worth approximately $22,223,000. Morgan Stanley lifted its position in Desktop Metal by 302.7% in the second quarter. Morgan Stanley now owns 4,089,552 shares of the pipeline company’s stock worth $47,030,000 after purchasing an additional 3,074,140 shares during the period. ARK Investment Management LLC lifted its position in Desktop Metal by 134.5% in the fourth quarter. ARK Investment Management LLC now owns 4,581,100 shares of the pipeline company’s stock worth $22,676,000 after purchasing an additional 2,627,394 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Desktop Metal in the third quarter worth approximately $14,253,000. Institutional investors and hedge funds own 39.23% of the company’s stock.

Shares of NYSE:DM traded up $0.20 during trading on Friday, hitting $2.10. 49,791 shares of the company traded hands, compared to its average volume of 8,030,699. The stock has a market capitalization of $658.27 million, a price-to-earnings ratio of -2.28 and a beta of 0.64. The business’s fifty day moving average is $3.68 and its 200-day moving average is $4.53. Desktop Metal has a one year low of $1.26 and a one year high of $15.48.

Desktop Metal (NYSE:DMGet Rating) last posted its earnings results on Tuesday, March 8th. The pipeline company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $56.68 million for the quarter, compared to the consensus estimate of $52.50 million. Desktop Metal had a negative net margin of 173.46% and a negative return on equity of 14.59%. Equities research analysts predict that Desktop Metal will post -0.4 earnings per share for the current fiscal year.

DM has been the topic of a number of analyst reports. Stifel Nicolaus dropped their target price on Desktop Metal from $11.00 to $6.00 in a research report on Wednesday, March 16th. StockNews.com raised Desktop Metal to a “sell” rating in a report on Wednesday, May 11th. Finally, Zacks Investment Research raised Desktop Metal from a “sell” rating to a “hold” rating in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.75.

About Desktop Metal (Get Rating)

Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.

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