Desktop Metal, Inc. (NYSE:DM) Stock Holdings Trimmed by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Desktop Metal, Inc. (NYSE:DM) by 5.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 21,932,564 shares of the pipeline company’s stock after selling 1,274,169 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Desktop Metal worth $32,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DM. Envestnet Asset Management Inc. acquired a new stake in shares of Desktop Metal in the 1st quarter worth approximately $90,000. Raymond James & Associates boosted its stake in Desktop Metal by 37.1% during the 1st quarter. Raymond James & Associates now owns 63,614 shares of the pipeline company’s stock valued at $302,000 after purchasing an additional 17,208 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Desktop Metal by 13.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 74,110 shares of the pipeline company’s stock valued at $351,000 after purchasing an additional 8,832 shares during the period. Private Advisor Group LLC bought a new stake in shares of Desktop Metal in the 1st quarter worth $125,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Desktop Metal by 58.2% in the first quarter. MetLife Investment Management LLC now owns 105,305 shares of the pipeline company’s stock valued at $499,000 after buying an additional 38,733 shares during the period. Institutional investors own 56.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com began coverage on Desktop Metal in a report on Saturday, March 2nd. They set a “sell” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Desktop Metal in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $1.25 price objective on the stock.

Desktop Metal Price Performance

Shares of NYSE:DM opened at $1.04 on Friday. The company has a market capitalization of $341.17 million, a PE ratio of -1.05 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 3.08. The stock has a fifty day moving average of $0.70 and a 200-day moving average of $0.81. Desktop Metal, Inc. has a one year low of $0.46 and a one year high of $2.37.

Desktop Metal (NYSE:DM) last announced its earnings results on Friday, March 15th. The pipeline company reported ($0.05) EPS for the quarter. The company had revenue of $52.35 million for the quarter. Desktop Metal had a negative net margin of 170.41% and a negative return on equity of 29.25%. During the same period last year, the company posted ($0.11) earnings per share. As a group, equities analysts anticipate that Desktop Metal, Inc. will post -0.15 EPS for the current fiscal year.

Desktop Metal 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.