Desktop Metal (NYSE:DM) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Desktop Metal (NYSE:DM) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

Desktop Metal Stock Down 0.8 %

Shares of DM stock opened at $3.73 on Thursday. Desktop Metal has a 52-week low of $3.62 and a 52-week high of $11.80. The company has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $4.56. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in Desktop Metal during the third quarter valued at approximately $214,000. Murchinson Ltd. bought a new stake in Desktop Metal during the 3rd quarter valued at $972,000. ARK Investment Management LLC boosted its position in Desktop Metal by 49.1% during the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after buying an additional 251,156 shares during the period. Olympiad Research LP purchased a new stake in shares of Desktop Metal during the third quarter worth about $476,000. Finally, Point72 DIFC Ltd bought a new position in Desktop Metal during the 2nd quarter valued at approximately $68,000. 56.31% of the stock is owned by institutional investors.

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.