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

Summit Financial LLC reduced its stake in shares of Desktop Metal, Inc. (NYSE:DM) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,550 shares of the pipeline company’s stock after selling 11,901 shares during the quarter. Summit Financial LLC owned 0.06% of Desktop Metal worth $48,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DM. ABC Arbitrage SA purchased a new position in shares of Desktop Metal in the fourth quarter worth $27,000. Virtu Financial LLC purchased a new position in shares of Desktop Metal in the fourth quarter valued at about $90,000. XTX Topco Ltd bought a new position in shares of Desktop Metal during the third quarter valued at about $214,000. Finally, Olympiad Research LP boosted its holdings 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 purchasing an additional 101,419 shares during the period. Hedge funds and other institutional investors own 56.31% of the company’s stock.

Analyst Ratings Changes

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

Desktop Metal Stock Performance

Shares of Desktop Metal stock opened at $4.96 on Friday. Desktop Metal, Inc. has a 12 month low of $1.84 and a 12 month high of $11.80. The firm has a market capitalization of $165.37 million, a P/E 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. The business has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $3.54.

Desktop Metal 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.