Millennium Management LLC Has $557,000 Holdings in Desktop Metal, Inc. (NYSE:DM)

Millennium Management LLC cut its holdings in Desktop Metal, Inc. (NYSE:DM) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,969 shares of the pipeline company’s stock after selling 40,728 shares during the period. Millennium Management LLC owned approximately 0.71% of Desktop Metal worth $557,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Desktop Metal by 2.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock worth $908,000 after buying an additional 8,665 shares during the last quarter. ABC Arbitrage SA bought a new position in Desktop Metal in the 4th quarter worth $27,000. Fifth Lane Capital LP bought a new position in Desktop Metal in the 4th quarter worth $42,000. Renaissance Technologies LLC lifted its position in Desktop Metal by 65.5% during the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock worth $118,000 after acquiring an additional 19,900 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Desktop Metal during the fourth quarter valued at about $51,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on Desktop Metal in a research report on Wednesday, May 21st. They issued a “hold” rating for the company.

Desktop Metal Stock Up 1.0%

Shares of DM opened at $4.96 on Monday. The company has a market capitalization of $165.37 million, a P/E ratio of -0.44 and a beta of 0.17. Desktop Metal, Inc. has a one year low of $1.84 and a one year high of $6.00. The business’s 50 day simple moving average is $4.96 and its 200-day simple moving average is $3.61. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

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.