Desktop Metal Inc. [NYSE: DM] slipped around -3.01 points on Tuesday, while shares priced at $30.49 at the close of the session, down -8.99%. The company report on February 9, 2021 that Desktop Metal Announces New Executive Leadership Appointments.
James Haley Appointed as New Chief Financial Officer;.
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Arjun Aggarwal Appointed as Chief Product Officer.
Desktop Metal Inc. stock is now 77.27% up from its year-to-date (YTD) trading value. DM Stock saw the intraday high of $33.54 and lowest of $30.41 per share. The company’s 52-week high price is 34.94, which means current price is +91.16% above from all time high which was touched on 02/08/21.
Compared to the average trading volume of 3.82M shares, DM reached a trading volume of 6445894 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Desktop Metal Inc. [DM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DM shares is $26.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DM stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on January 08, 2021, representing the official price target for Desktop Metal Inc. stock. Previously, the target price had yet another raise to $17, while Craig Hallum analysts kept a Hold rating on DM stock.
The Average True Range (ATR) for Desktop Metal Inc. is set at 2.49, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 438.20. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.00.
How has DM stock performed recently?
Desktop Metal Inc. [DM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.25. With this latest performance, DM shares gained by 46.73% in over the last four-week period, additionally plugging by 197.75% over the last 6 months – not to mention a rise of 203.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DM stock in for the last two-week period is set at 66.06, with the RSI for the last a single of trading hit 66.13, and the three-weeks RSI is set at 65.56 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 20.73, while it was recorded at 29.59 for the last single week of trading, and 13.08 for the last 200 days.
Desktop Metal Inc. [DM]: Deeper insight into the fundamentals
Desktop Metal Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
Insider trade positions for Desktop Metal Inc. [DM]
There are presently around $528 million, or 36.70% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: MILLER VALUE PARTNERS, LLC with ownership of 1,868,070, which is approximately New of the company’s market cap and around 13.20% of the total institutional ownership; LINDEN ADVISORS LP, holding 1,167,896 shares of the stock with an approximate value of $35.61 million in DM stocks shares; and MAGNETAR FINANCIAL LLC, currently with $30.75 million in DM stock with ownership of nearly -16.931% of the company’s market capitalization.
62 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 9,758,625 shares. Additionally, 53 investors decreased positions by around 18,109,725 shares, while 4 investors held positions by with 10,537,501 shares. The mentioned changes placed institutional holdings at 17,330,849 shares, according to the latest SEC report filing. DM stock had 51 new institutional investments in for a total of 8,742,737 shares, while 27 institutional investors sold positions of 6,197,908 shares during the same period.