StockNews.com Begins Coverage on Desktop Metal (NYSE:DM)

StockNews.com assumed coverage on shares of Desktop Metal (NYSE:DM) in a research note published on Saturday. The firm issued a hold rating on the pipeline company’s stock.

Desktop Metal Stock Performance

Shares of DM stock opened at $4.96 on Friday. The stock has a market cap of $165.37 million, a PE ratio of -0.44 and a beta of 0.17. The stock has a 50-day moving average of $3.45 and a 200-day moving average of $3.55. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. Desktop Metal has a one year low of $1.84 and a one year high of $9.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ABC Arbitrage SA bought a new position in shares of Desktop Metal during the 4th quarter valued at about $27,000. 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 worth $476,000 after acquiring an additional 101,419 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Desktop Metal during the fourth quarter worth $90,000. Renaissance Technologies LLC lifted its position in Desktop Metal by 65.5% in the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 19,900 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in Desktop Metal by 19.5% in the 4th quarter. Gabelli Funds LLC now owns 432,706 shares of the pipeline company’s stock worth $1,013,000 after purchasing an additional 70,758 shares during the period. 56.31% of the stock is currently owned by 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.