Desktop Metal (NYSE:DM) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Desktop Metal, Inc. (NYSE:DM) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.34 and traded as high as $2.49. Desktop Metal shares last traded at $2.21, with a volume of 256,895 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered Desktop Metal from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

Desktop Metal Stock Performance

The company’s 50-day moving average price is $2.34 and its 200 day moving average price is $3.52. The stock has a market capitalization of $73.68 million, a PE ratio of -0.20 and a beta of 0.70. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34.

Institutional Trading of Desktop Metal

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ABC Arbitrage SA bought a new stake in shares of Desktop Metal during the 4th quarter valued at $27,000. Squarepoint Ops LLC bought a new stake in Desktop Metal during the fourth quarter worth about $41,000. Fifth Lane Capital LP purchased a new stake in Desktop Metal in the fourth quarter worth about $42,000. Cresset Asset Management LLC bought a new position in shares of Desktop Metal during the fourth quarter valued at approximately $51,000. Finally, Virtu Financial LLC bought a new stake in shares of Desktop Metal in the 4th quarter worth approximately $90,000. 56.31% of the stock is currently owned by hedge funds and other institutional investors.

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.