Desktop Metal (NYSE:DM) Price Target Cut to $2.00

Desktop Metal (NYSE:DMGet Rating) had its price objective reduced by analysts at Craig Hallum to $2.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Craig Hallum’s price target points to a potential downside of 14.16% from the stock’s current price.

Other research analysts have also issued research reports about the company. Credit Suisse Group dropped their price objective on Desktop Metal from $2.70 to $2.30 and set a “neutral” rating on the stock in a report on Thursday, November 10th. Benchmark dropped their price objective on Desktop Metal to $5.00 in a report on Tuesday.

Desktop Metal Stock Performance

NYSE:DM opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.79 and a quick ratio of 2.86. The stock’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $2.57. Desktop Metal has a 12-month low of $1.26 and a 12-month high of $7.40.

Institutional Trading of Desktop Metal

Several large investors have recently bought and sold shares of DM. Alphabet Inc. acquired a new stake in Desktop Metal in the third quarter valued at $28,616,000. State Street Corp lifted its position in shares of Desktop Metal by 60.8% in the second quarter. State Street Corp now owns 6,742,775 shares of the pipeline company’s stock valued at $14,834,000 after acquiring an additional 2,550,024 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Desktop Metal in the third quarter valued at $2,449,000. J. Goldman & Co LP purchased a new stake in shares of Desktop Metal in the first quarter valued at $4,279,000. Finally, Discovery Capital Management LLC CT purchased a new stake in shares of Desktop Metal in the second quarter valued at $1,721,000. Institutional investors and hedge funds own 36.62% of the company’s stock.

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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