Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,380,000 shares, a growth of 8.2% from the December 31st total of 2,200,000 shares. Currently, 12.7% of the shares of the company are sold short. Based on an average trading volume of 283,200 shares, the days-to-cover ratio is currently 8.4 days.

Institutional Investors Weigh In On Desktop Metal

Hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new stake in shares of Desktop Metal during the fourth quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new position in Desktop Metal during the second quarter valued at $150,000. XTX Topco Ltd acquired a new position in Desktop Metal during the third quarter valued at $214,000. Susquehanna Fundamental Investments LLC acquired a new position in Desktop Metal during the second quarter valued at $208,000. Finally, AQR Capital Management LLC raised its position in Desktop Metal by 217.8% during the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after buying an additional 40,478 shares during the period. 56.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Desktop Metal Stock Performance

Shares of Desktop Metal stock opened at $2.41 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The business has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $4.02. Desktop Metal has a fifty-two week low of $2.02 and a fifty-two week high of $11.80.

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.