Desktop Metal, Inc. (NYSE:DM) Receives Consensus “Hold” Rating From Brokers


Desktop Metal, Inc. (NYSE:DM – Get Rating) has been assigned a consensus rating of “Hold” by the seven ratings companies that currently cover the stock, Marketbeat reports. One equity research analyst rated the stock with a sell recommendation, three assigned a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among analysts who updated their stock coverage in the last year is $9.00.

Separately, StockNews.com upgraded Desktop Metal shares to a “sell” rating in a Wednesday, May 11 report.

Hedge funds weigh on desktops

Several large investors have recently increased or reduced their stake in the company. SG Americas Securities LLC increased its stake in Desktop Metal by 21.0% during the second quarter. SG Americas Securities LLC now owns 93,195 shares of the pipeline company valued at $205,000 after buying an additional 16,193 shares last quarter. CWM LLC increased its stake in Desktop Metal by 2,805.6% during the second quarter. CWM LLC now owns 11,332 shares of the pipeline company valued at $25,000 after purchasing an additional 10,942 shares last quarter. Privium Fund Management BV bought a new position in Desktop Metal during the second quarter worth approximately $132,000. DA Davidson & CO. bought a new position in Desktop Metal during the second quarter worth approximately $264,000. Finally, RPG Investment Advisory LLC increased its stake in Desktop Metal by 16.8% during the second quarter. RPG Investment Advisory LLC now owns 471,050 shares of the pipeline company valued at $1,036,000 after purchasing an additional 67,750 shares in the last quarter. Hedge funds and other institutional investors own 39.23% of the company’s shares.

Metal office stock down 0.5%

DM shares opened at $2.13 on Friday. The company has a 50-day moving average price of $2.22 and a 200-day moving average price of $3.34. Desktop Metal has a 52 week low of $1.26 and a 52 week high of $9.82. The company has a market capitalization of $667.67 million, a PE ratio of -2.37 and a beta of 0.54.

Desktop Metal (NYSE:DM – Get Rating) last reported quarterly results on Tuesday, May 10. The pipeline company reported ($0.17) EPS for the quarter, missing analyst consensus estimates of ($0.14) by ($0.03). The company posted revenue of $43.71 million in the quarter, versus a consensus estimate of $42.53 million. Desktop Metal had a negative return on equity of 14.59% and a negative net margin of 173.46%. Analysts expect Desktop Metal to post -0.35 earnings per share for the current year.

Desktop Metal Company Profile

(Get an assessment)

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.

Further reading

Analyst Recommendations for Desktop Metal (NYSE: DM)



Get news and reviews for Desktop Metal Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Desktop Metal and related companies with MarketBeat.com’s free daily email newsletter.