Desktop Metal, Inc. (NYSE:DM) Sees Large Growth in Short Interest

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Murchinson Ltd. acquired a new position in Desktop Metal in the 3rd quarter valued at approximately $972,000. ARK Investment Management LLC raised its stake in shares of Desktop Metal by 49.1% in the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after purchasing an additional 251,156 shares in the last quarter. Clearline Capital LP acquired a new position in shares of Desktop Metal in the second quarter valued at $381,000. Susquehanna Fundamental Investments LLC bought a new position in Desktop Metal in the second quarter worth $208,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Desktop Metal in the 2nd quarter valued at $150,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

Desktop Metal Stock Down 9.7 %

Shares of DM traded down $0.24 during trading hours on Friday, hitting $2.20. 545,380 shares of the company were exchanged, compared to its average volume of 326,641. The firm’s 50 day moving average is $3.41 and its 200-day moving average is $4.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. Desktop Metal has a 52 week low of $2.18 and a 52 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.