StockNews.com Begins Coverage on Desktop Metal (NYSE:DM)

StockNews.com began coverage on shares of Desktop Metal (NYSE:DM) in a research note issued on Sunday. The firm set a “hold” rating on the pipeline company’s stock.

Desktop Metal Stock Performance

Desktop Metal stock opened at $4.96 on Friday. The firm has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $3.56. The stock has a market cap of $165.37 million, a price-to-earnings ratio of -0.44 and a beta of 0.17. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. Desktop Metal has a 1-year low of $1.84 and a 1-year high of $8.92.

Institutional Trading of Desktop Metal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Desktop Metal by 2.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock worth $908,000 after buying an additional 8,665 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Desktop Metal during the 4th quarter worth approximately $27,000. Squarepoint Ops LLC acquired a new stake in shares of Desktop Metal during the 4th quarter worth approximately $41,000. Fifth Lane Capital LP acquired a new stake in shares of Desktop Metal during the 4th quarter worth approximately $42,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Desktop Metal by 65.5% during the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock worth $118,000 after buying an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Desktop Metal

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.