Desktop Metal (NYSE:DM) Stock Price Crosses Below Two Hundred Day Moving Average of $6.10

Desktop Metal, Inc. (NYSE:DM)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.10 and traded as low as $4.14. Desktop Metal shares last traded at $4.15, with a volume of 125,419 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DM shares. StockNews.com initiated coverage on shares of Desktop Metal in a research note on Tuesday, June 18th. They set a “sell” rating on the stock. Craig Hallum restated a “hold” rating on shares of Desktop Metal in a research report on Monday, July 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $5.50 price objective (down from $12.50) on shares of Desktop Metal in a report on Monday, July 8th.

Desktop Metal Stock Down 1.0 %

The stock has a 50 day moving average price of $4.57 and a 200 day moving average price of $6.10. The company has a market cap of $138.03 million, a P/E ratio of -0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 2.60.

Insiders Place Their Bets

In other news, CFO Jason M. Cole sold 24,064 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $4.23, for a total transaction of $101,790.72. Following the completion of the transaction, the chief financial officer now owns 69,352 shares in the company, valued at approximately $293,358.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 14.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DM. Summit Financial LLC raised its position in shares of Desktop Metal by 8.8% during the first quarter. Summit Financial LLC now owns 344,574 shares of the pipeline company’s stock worth $303,000 after purchasing an additional 27,754 shares during the period. Empowered Funds LLC acquired a new stake in Desktop Metal during the 1st quarter worth about $45,000. SG Americas Securities LLC raised its holdings in Desktop Metal by 4,740.2% during the 1st quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock worth $840,000 after buying an additional 934,632 shares during the period. Keating Investment Counselors Inc. purchased a new stake in Desktop Metal during the first quarter valued at about $72,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Desktop Metal by 66.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock worth $350,000 after buying an additional 158,872 shares during the period. 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.