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.
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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