Brokerages Set Desktop Metal, Inc. (NYSE:DM) Price Target at $14.25

Shares of Desktop Metal, Inc. (NYSE:DM) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.25.

A number of equities analysts have recently issued reports on the company. Benchmark dropped their price target on Desktop Metal from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 17th. Credit Suisse Group assumed coverage on Desktop Metal in a research note on Wednesday, November 17th. They issued a “neutral” rating on the stock. Oppenheimer assumed coverage on Desktop Metal in a research note on Thursday, October 7th. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded Desktop Metal from a “hold” rating to a “sell” rating in a research note on Friday, November 19th. Finally, Lake Street Capital dropped their price target on Desktop Metal from $8.00 to $7.00 and set a “sell” rating on the stock in a research note on Friday, November 12th. They noted that the move was a valuation call.

Several hedge funds have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new stake in Desktop Metal during the second quarter worth approximately $29,000. Rockefeller Capital Management L.P. increased its stake in Desktop Metal by 269.4% during the second quarter. Rockefeller Capital Management L.P. now owns 2,933 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 2,139 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Desktop Metal during the second quarter worth approximately $35,000. Daiwa Securities Group Inc. bought a new stake in Desktop Metal during the third quarter worth approximately $37,000. Finally, Sterling Investment Advisors Ltd. increased its stake in Desktop Metal by 3,200.0% during the second quarter. Sterling Investment Advisors Ltd. now owns 3,300 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 3,200 shares during the last quarter. 50.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DM opened at $6.82 on Monday. The business’s fifty day simple moving average is $7.50 and its two-hundred day simple moving average is $9.49. The company has a current ratio of 9.78, a quick ratio of 9.12 and a debt-to-equity ratio of 0.01. Desktop Metal has a 12 month low of $6.39 and a 12 month high of $34.94.

About Desktop Metal

Desktop Metal, Inc manufactures and sells additive manufacturing solutions for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a turnkey binder jetting platform for machine and job shops; Studio System, an office metal 3D printing system; and Fiber, a desktop 3D printer.

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Analyst Recommendations for Desktop Metal (NYSE:DM)

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