Shares of Desktop Metal, Inc. (NYSE:DM – Get Rating) have been assigned an average recommendation of "Hold" from the eight analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.46.
Several equities research analysts recently weighed in on DM shares. Credit Suisse Group initiated coverage on Desktop Metal in a report on Tuesday, August 16th. They set a "neutral" rating and a $2.80 price target for the company. Benchmark reduced their target price on shares of Desktop Metal to $6.00 in a research note on Monday, August 15th. Finally, Craig Hallum boosted their price target on shares of Desktop Metal to $2.50 in a research note on Monday, August 15th.
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Insider Buying and Selling
In other news, CEO Ric Fulop acquired 30,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $3.09 per share, with a total value of $92,700.00. Following the purchase, the chief executive officer now directly owns 20,253,999 shares of the company's stock, valued at approximately $62,584,856.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have purchased 41,000 shares of company stock valued at $127,960. Corporate insiders own 16.78% of the company's stock.
Institutional Trading of Desktop Metal
Several large investors have recently modified their holdings of DM. Rothschild Investment Corp IL purchased a new stake in shares of Desktop Metal in the first quarter valued at $47,000. Blair William & Co. IL purchased a new position in shares of Desktop Metal during the 4th quarter worth about $65,000. Squarepoint Ops LLC boosted its position in shares of Desktop Metal by 33.0% in the fourth quarter. Squarepoint Ops LLC now owns 447,342 shares of the pipeline company's stock worth $2,214,000 after acquiring an additional 111,109 shares during the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Desktop Metal by 3.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 662,593 shares of the pipeline company's stock worth $3,280,000 after buying an additional 23,913 shares during the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Desktop Metal in the 1st quarter valued at about $95,000. 36.62% of the stock is currently owned by institutional investors and hedge funds.
Desktop Metal Stock Performance
NYSE DM opened at $3.19 on Friday. The company has a fifty day moving average of $2.88 and a two-hundred day moving average of $3.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.32 and a quick ratio of 3.37. Desktop Metal has a 1 year low of $1.26 and a 1 year high of $9.69. The company has a market capitalization of $1.01 billion, a PE ratio of -1.90 and a beta of 0.25.
Desktop Metal (NYSE:DM – Get Rating) last released its quarterly earnings results on Monday, August 8th. The pipeline company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.07). The firm had revenue of $57.67 million for the quarter, compared to analysts' expectations of $55.70 million. Desktop Metal had a negative return on equity of 17.56% and a negative net margin of 275.35%. As a group, analysts expect that Desktop Metal will post -0.47 earnings per share for the current year.
About Desktop Metal
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Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.
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