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

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

Desktop Metal Stock Up 1.0%

DM stock opened at $4.96 on Wednesday. The stock has a market capitalization of $165.37 million, a price-to-earnings ratio of -0.44 and a beta of 0.17. The company has a 50-day moving average of $4.60 and a two-hundred day moving average of $3.57. Desktop Metal has a 52-week low of $1.84 and a 52-week high of $6.54. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

Institutional Trading of Desktop Metal

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

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.