Desktop Metal, Inc. (NYSE:DM – Get Rating) CEO Ric Fulop bought 6,000 shares in a trade on Monday, August 22. The shares were purchased at an average price of $3.21 per share, for a total transaction of $19,260.00. Following completion of the transaction, the CEO now directly owns 20,264,999 shares of the company, valued at approximately $65,050,646.79. The acquisition was disclosed in a filing with the SEC, accessible via this link.
Ric Fulop also recently made the following trade(s):
- On Tuesday August 16, Ric Fulop bought 5,000 shares of Desktop Metal. The shares were purchased at an average price of $3.20 per share, for a total transaction of $16,000.00.
- On Thursday August 11, Ric Fulop bought 30,000 shares of Desktop Metal. The shares were purchased at an average price of $3.09 per share, for a total transaction of $92,700.00.
Office metal price performance
NYSE: DM was down $0.05 during midday trading on Monday, hitting $3.20. The stock recorded a trading volume of 120,733 shares, compared to an average volume of 7,520,407 shares. The company has a current ratio of 4.32, a quick ratio of 3.37 and a debt ratio of 0.13. The company has a 50-day simple moving average of $2.46 and a 200-day simple moving average of $3.21. Desktop Metal, Inc. has a 52 week low of $1.26 and a 52 week high of $9.69.
Desktop Metal (NYSE:DM – Get Rating) last released its results on Monday August 8th. The pipeline company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company posted revenue of $57.67 million for the quarter, versus analyst estimates of $55.70 million. Desktop Metal had a negative net margin of 275.35% and a negative return on equity of 17.56%. On average, analysts expect Desktop Metal, Inc. to post -0.35 earnings per share for the current fiscal year.
Hedge funds weigh on desktops
Several hedge funds have recently changed their positions in DM. Legal & General Group Plc increased its holding in Desktop Metal shares by 8.1% during the second quarter. Legal & General Group Plc now owns 182,576 shares in the pipeline company worth $402,000 after buying an additional 13,629 shares during the period. Greenwood Gearhart Inc. increased its position in Desktop Metal by 49.1% during the second quarter. Greenwood Gearhart Inc. now owns 975,532 shares of the pipeline company worth $2,146,000 after acquiring an additional 321,086 shares during the period. Price T Rowe Associates Inc. ® increased its holding in Desktop Metal by 4.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 204,744 shares of the pipeline company valued at $450,000 after purchasing an additional 8,411 shares during the period. Prudential Financial Inc. increased its stake in Desktop Metal by 29.8% in the second quarter. Prudential Financial Inc. now owns 16,244 shares of the pipeline company valued at $36,000 after purchasing an additional 3,730 shares during the period. Finally, Discovery Capital Management LLC CT acquired a new equity stake in Desktop Metal in Q2 valued at $1,721,000. Institutional investors and hedge funds hold 39.23% of the company’s shares.
Analyst upgrades and downgrades
Several brokerages have weighed in on DM. StockNews.com upgraded Desktop Metal shares to a “sell” rating in a Wednesday, May 11 research report. Craig Hallum raised his price target on Desktop Metal shares to $2.50 in a Monday, August 15 report. Credit Suisse Group launched a hedge on Desktop Metal shares in a Tuesday, August 16 report. They issued a “neutral” rating and a price target of $2.80 on the stock. Finally, Benchmark reduced its price target on Desktop Metal shares to $6.00 in a Monday, August 15 research note. One analyst rated the stock with a sell rating, three gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.46.
About Desktop Metal
(Get a rating)
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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