Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 2,730,000 shares, a growth of 8.8% from the January 15th total of 2,510,000 shares. Based on an average trading volume of 311,800 shares, the short-interest ratio is presently 8.8 days. Approximately 14.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Desktop Metal from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

Desktop Metal Price Performance

Shares of DM stock opened at $2.57 on Tuesday. The firm has a fifty day simple moving average of $2.67 and a 200-day simple moving average of $3.85. 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 twelve month low of $2.02 and a twelve month high of $11.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DM. ABC Arbitrage SA purchased a new position in shares of Desktop Metal in the fourth quarter valued at $27,000. Squarepoint Ops LLC purchased a new position in shares of Desktop Metal in the fourth quarter valued at $41,000. Fifth Lane Capital LP purchased a new position in shares of Desktop Metal in the fourth quarter valued at $42,000. Cresset Asset Management LLC bought a new position in Desktop Metal during the 4th quarter valued at $51,000. Finally, Virtu Financial LLC bought a new position in Desktop Metal during the 4th quarter valued at $90,000. 56.31% of the stock is currently owned by hedge funds and other 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.