StockNews.com Initiates Coverage on Desktop Metal (NYSE:DM)

Investment analysts at StockNews.com began coverage on shares of Desktop Metal (NYSE:DM) in a report issued on Friday. The firm set a “hold” rating on the pipeline company’s stock.

Desktop Metal Stock Up 1.0 %

NYSE:DM opened at $4.96 on Friday. Desktop Metal has a 1 year low of $1.84 and a 1 year high of $11.52. The stock has a 50-day moving average price of $3.13 and a two-hundred day moving average price of $3.55. The stock has a market cap of $165.37 million, a price-to-earnings ratio of -0.44 and a beta of 0.17. The company has a current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56.

Hedge Funds Weigh In On Desktop Metal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ABC Arbitrage SA bought a new stake in Desktop Metal in the 4th quarter valued at approximately $27,000. Squarepoint Ops LLC acquired a new stake in shares of Desktop Metal in the fourth quarter valued at approximately $41,000. Fifth Lane Capital LP bought a new stake in shares of Desktop Metal in the fourth quarter worth $42,000. Cresset Asset Management LLC bought a new position in Desktop Metal in the fourth quarter valued at $51,000. Finally, Virtu Financial LLC bought a new stake in Desktop Metal during the 4th quarter worth about $90,000. 56.31% of the stock is 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.