StockNews.com assumed coverage on shares of Desktop Metal (NYSE:DM – Free Report) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the pipeline company’s stock.
Desktop Metal Trading Up 1.0 %
Shares of NYSE DM opened at $4.96 on Friday. Desktop Metal has a 1-year low of $1.84 and a 1-year high of $9.40. The company has a 50-day moving average of $3.45 and a two-hundred day moving average of $3.55. The company 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.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of DM. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Desktop Metal by 2.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock worth $908,000 after acquiring an additional 8,665 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Desktop Metal in the fourth quarter worth about $27,000. Squarepoint Ops LLC bought a new stake in Desktop Metal during the 4th quarter worth about $41,000. Fifth Lane Capital LP acquired a new position in Desktop Metal during the 4th quarter valued at about $42,000. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 purchasing an additional 19,900 shares during the last quarter. 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.
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