Cantor Fitzgerald Reaffirms Neutral Rating for Desktop Metal (NYSE:DM)

Cantor Fitzgerald reiterated their neutral rating on shares of Desktop Metal (NYSE:DMFree Report) in a report published on Monday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has a $5.50 price target on the pipeline company’s stock, down from their previous price target of $12.50.

A number of other analysts also recently commented on DM. StockNews.com assumed coverage on Desktop Metal in a research report on Tuesday, June 18th. They issued a sell rating for the company. Craig Hallum restated a hold rating on shares of Desktop Metal in a research note on Monday, July 1st.

Read Our Latest Stock Report on DM

Desktop Metal Trading Up 5.7 %

Shares of Desktop Metal stock opened at $5.34 on Monday. Desktop Metal has a 1 year low of $3.62 and a 1 year high of $20.00. The company’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $6.54. The company has a market cap of $176.43 million, a price-to-earnings ratio of -0.54 and a beta of 0.61. The company has a current ratio of 2.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.57.

Desktop Metal (NYSE:DMGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. The company had revenue of $40.60 million during the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. During the same quarter last year, the company earned ($1.10) EPS. As a group, sell-side analysts expect that Desktop Metal will post -1.46 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jason M. Cole sold 18,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total value of $111,600.00. Following the completion of the transaction, the chief financial officer now directly owns 87,168 shares of the company’s stock, valued at approximately $540,441.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On Desktop Metal

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Advisors LLC bought a new stake in Desktop Metal during the first quarter worth about $281,000. Levin Capital Strategies L.P. bought a new stake in Desktop Metal during the first quarter worth about $35,000. Price T Rowe Associates Inc. MD grew its stake in Desktop Metal by 66.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock worth $350,000 after buying an additional 158,872 shares during the last quarter. Keating Investment Counselors Inc. bought a new stake in Desktop Metal during the first quarter worth about $72,000. Finally, SG Americas Securities LLC grew its stake in Desktop Metal by 4,740.2% during the first quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock worth $840,000 after buying an additional 934,632 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Desktop Metal

(Get Free Report)

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.

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