Desktop Metal (NYSE:DM – Get Rating) is expected to release earnings data after market close on Monday, August 8. Analysts expect Desktop Metal to post earnings of ($0.09) per share for the quarter. Desktop Metal has set its guidance for fiscal year 2022 at EPS. Individuals wishing to register for the company’s earnings conference call can do so using this link.
Desktop Metal (NYSE:DM – Get Rating) last released its quarterly results on Tuesday, May 10. The pipeline company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Desktop Metal had a negative return on equity of 14.59% and a negative net margin of 173.46%. The company posted revenue of $43.71 million for the quarter, versus $42.53 million expected by analysts. On average, analysts expect Desktop Metal to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Metal office stock down 0.4%
DM opened at $2.41 on Friday. Desktop Metal has a 52 week low of $1.26 and a 52 week high of $9.82. The company has a fifty-day simple moving average of $2.25 and a 200-day simple moving average of $3.28. The company has a market capitalization of $755.44 million, a P/E ratio of -2.68 and a beta of 0.50.
Changes to analyst ratings
Separately, StockNews.com upgraded Desktop Metal to a “sell” rating in a Wednesday, May 11 report. One research analyst rated the stock with a sell rating, three assigned a hold rating and three gave the stock a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.
Institutional office metal trading
A number of hedge funds and other institutional investors have recently changed their positions in the company. Vanguard Group Inc. increased its position in Desktop Metal by 2.0% in Q1. Vanguard Group Inc. now owns 19,586,639 shares of the pipeline company valued at $92,840,000 after acquiring an additional 376,362 shares during the period. State Street Corp increased its position in Desktop Metal by 5.9% in Q1. State Street Corp now owns 4,192,751 shares of the pipeline company valued at $19,874,000 after acquiring an additional 232,111 shares during the period. Charles Schwab Investment Management Inc. increased its position in Desktop Metal by 3.8% in Q1. Charles Schwab Investment Management Inc. now owns 1,358,945 shares of the pipeline company valued at $6,442,000 after acquiring 49,381 additional shares during the period. Robeco Schweiz AG increased its position in Desktop Metal by 33.0% in the 1st quarter. Robeco Schweiz AG now owns 1,330,000 shares of the pipeline company valued at $6,304,000 after acquiring an additional 330,000 shares during the period. Finally, Cetera Investment Advisers increased its position in Desktop Metal by 63.6% in the 1st quarter. Cetera Investment Advisers now owns 171,259 shares of the pipeline company valued at $812,000 after acquiring an additional 66,600 shares during the period. Institutional investors and hedge funds hold 39.23% of the company’s shares.
Desktop Metal Company Profile
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Desktop Metal, Inc engages in the manufacture and sale of additive manufacturing technologies for engineers, designers and makers in the Americas, Europe, Middle East, Africa and Asia-Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-Series platform for mass production of metal, ceramic or composite 3D printed parts by binder jetting, balancing speed and quality; and Studio System, a desktop metal 3D printing system; and the Fiber platform which offers a desktop 3D printer.
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