Summit Financial LLC Sells 11,901 Shares of Desktop Metal, Inc. (NYSE:DM)

Summit Financial LLC lessened its stake in Desktop Metal, Inc. (NYSE:DM) by 36.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,550 shares of the pipeline company’s stock after selling 11,901 shares during the quarter. Summit Financial LLC’s holdings in Desktop Metal were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Desktop Metal in the fourth quarter worth about $90,000. Olympiad Research LP increased its position in shares of Desktop Metal by 99.6% during the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after acquiring an additional 101,419 shares in the last quarter. ABC Arbitrage SA purchased a new position in Desktop Metal in the 4th quarter worth approximately $27,000. Finally, XTX Topco Ltd bought a new position in Desktop Metal in the 3rd quarter valued at approximately $214,000. Institutional investors own 56.31% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Desktop Metal from a “sell” rating to a “hold” rating in a report on Saturday, March 29th.

Desktop Metal Price Performance

Shares of DM opened at $4.96 on Friday. The firm has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $3.54. 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 current ratio of 2.34, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. Desktop Metal, Inc. has a 1-year low of $1.84 and a 1-year high of $11.80.

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.