Desktop Metal (NYSE:DM) Shares Pass Above 50-Day Moving Average – Time to Sell?

Desktop Metal, Inc. (NYSE:DM) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.96 and traded as high as $5.01. Desktop Metal shares last traded at $4.96, with a volume of 1,323,281 shares changing hands.

Wall Street Analysts Forecast Growth

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

Desktop Metal Stock Up 1.0%

The firm has a market cap of $165.37 million, a PE ratio of -0.44 and a beta of 0.17. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The firm’s 50-day moving average price is $4.96 and its two-hundred day moving average price is $3.66.

Institutional Trading of Desktop Metal

Several institutional investors have recently modified their holdings of DM. Squarepoint Ops LLC purchased a new stake in shares of Desktop Metal during the 4th quarter worth approximately $41,000. Fifth Lane Capital LP acquired a new position in shares of Desktop Metal in the 4th quarter valued at $42,000. Cresset Asset Management LLC acquired a new position in shares of Desktop Metal in the 4th quarter valued at $51,000. Virtu Financial LLC acquired a new position in shares of Desktop Metal in the 4th quarter valued at $90,000. Finally, Syquant Capital Sas acquired a new position in shares of Desktop Metal in the 1st quarter valued at $103,000. Hedge funds and other 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.