US Bancorp DE Grows Holdings in Desktop Metal, Inc. (NYSE:DM)

US Bancorp DE lifted its position in shares of Desktop Metal, Inc. (NYSE:DMFree Report) by 2,613.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,242 shares of the pipeline company’s stock after buying an additional 19,496 shares during the quarter. US Bancorp DE’s holdings in Desktop Metal were worth $47,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Simplicity Solutions LLC acquired a new stake in shares of Desktop Metal during the first quarter worth about $28,000. Daiwa Securities Group Inc. lifted its holdings in shares of Desktop Metal by 24.4% during the first quarter. Daiwa Securities Group Inc. now owns 40,484 shares of the pipeline company’s stock worth $93,000 after purchasing an additional 7,952 shares during the period. Private Trust Co. NA acquired a new position in Desktop Metal in the first quarter valued at approximately $32,000. ARK Investment Management LLC lifted its holdings in Desktop Metal by 47.4% in the first quarter. ARK Investment Management LLC now owns 3,328,146 shares of the pipeline company’s stock valued at $7,655,000 after acquiring an additional 1,070,951 shares during the period. Finally, Diametric Capital LP acquired a new position in Desktop Metal in the fourth quarter valued at approximately $75,000. Institutional investors own 53.68% of the company’s stock.

Desktop Metal Trading Down 1.1 %

Shares of DM stock opened at $1.78 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.49 and a quick ratio of 2.27. The company has a market cap of $575.06 million, a price-to-earnings ratio of -1.19 and a beta of 0.61. The stock has a 50 day simple moving average of $1.73 and a 200-day simple moving average of $1.91. Desktop Metal, Inc. has a 1-year low of $1.13 and a 1-year high of $3.65.

Desktop Metal (NYSE:DMGet Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Desktop Metal had a negative return on equity of 25.20% and a negative net margin of 235.11%. The firm had revenue of $53.29 million for the quarter, compared to analysts’ expectations of $57.35 million. On average, equities research analysts expect that Desktop Metal, Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Desktop Metal in a report on Saturday. They issued a “sell” rating for the company.

Get Our Latest Analysis on DM

Desktop Metal Profile

(Free Report)

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 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; Studio System, an office metal 3D printing system; and Desktop Metal Furnace, which is paired with the Studio System and binder jetting solutions to create turnkey metal additive manufacturing solutions.

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Institutional Ownership by Quarter for Desktop Metal (NYSE:DM)

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