Desktop Metal (NYSE:DM) Stock Passes Above 50 Day Moving Average – Here’s Why

Desktop Metal, Inc. (NYSE:DM) passed 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.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Desktop Metal from a “hold” rating to a “sell” rating in a research note on Friday, February 7th.

Desktop Metal Stock Performance

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 stock has a market cap of $73.68 million, a PE ratio of -0.20 and a beta of 0.70. The company’s 50-day moving average price is $2.34 and its two-hundred day moving average price is $3.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DM. Toronto Dominion Bank purchased a new stake in Desktop Metal during the 4th quarter valued at about $293,000. Squarepoint Ops LLC bought a new position in shares of Desktop Metal in the fourth quarter worth approximately $41,000. OMERS ADMINISTRATION Corp increased its stake in shares of Desktop Metal by 247.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 284,068 shares of the pipeline company’s stock worth $665,000 after buying an additional 202,368 shares during the period. LMR Partners LLP bought a new stake in Desktop Metal during the 4th quarter valued at $585,000. Finally, Cresset Asset Management LLC bought a new stake in Desktop Metal during the 4th quarter valued at $51,000. 56.31% of the stock is owned by institutional investors.

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.