Desktop Metal Inc. [NYSE: DM] gained 14.58% on the last trading session, reaching $12.89 price per share at the time. The company report on April 21, 2021 that Desktop Metal Qualifies 316L Stainless Steel for High Volume Manufacturing With the Production System.
With 316L, Businesses Can Produce Cost-Effective, End-Use Metal Parts for Extreme Temperature, Highly Corrosive Applications on the World’s Fastest Metal 3D Printing Platform.
Desktop Metal (NYSE: DM), a leader in mass production and turnkey additive manufacturing solutions, announced it has qualified the use of 316L stainless steel for the Production System™ platform, which leverages patent pending Single Pass Jetting™ (SPJ) technology designed to achieve the fastest build speeds in the metal additive manufacturing market.
Desktop Metal Inc. represents 224.63 million in outstanding shares, while the company has a total market value of $3.12 billion with the latest information. DM stock price has been found in the range of $10.96 to $13.02.
If compared to the average trading volume of 4.02M shares, DM reached a trading volume of 6018736 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Desktop Metal Inc. [DM]:
Lake Street have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 26, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on January 19, 2021, representing the official price target for Desktop Metal Inc. stock. Previously, the target price had yet another raise to $28, while The Benchmark Company analysts kept a Buy rating on DM stock.
The Average True Range (ATR) for Desktop Metal Inc. is set at 1.40, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 189.01. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 2.46.
Trading performance analysis for DM stock
Desktop Metal Inc. [DM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.13. With this latest performance, DM shares dropped by -35.42% in over the last four-week period, additionally plugging by 18.26% over the last 6 months – not to mention a rise of 29.94% 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 38.89, with the RSI for the last a single of trading hit 41.41, and the three-weeks RSI is set at 39.39 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 18.94, while it was recorded at 12.24 for the last single week of trading, and 15.20 for the last 200 days.
Desktop Metal Inc. [DM]: A deeper dive into fundamental analysis
Desktop Metal Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.80 and a Current Ratio set at 20.10.
An analysis of insider ownership at Desktop Metal Inc. [DM]
There are presently around $786 million, or 36.60% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 28,416,088, which is approximately New of the company’s market cap and around 15.70% of the total institutional ownership; KPCB XVI ASSOCIATES, LLC, holding 17,721,150 shares of the stock with an approximate value of $199.36 million in DM stocks shares; and MILLER VALUE PARTNERS, LLC, currently with $88.94 million in DM stock with ownership of nearly 323.195% of the company’s market capitalization.
88 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 65,141,846 shares. Additionally, 55 investors decreased positions by around 12,120,857 shares, while 5 investors held positions by with 7,394,391 shares. The mentioned changes placed institutional holdings at 69,868,312 shares, according to the latest SEC report filing. DM stock had 65 new institutional investments in for a total of 57,431,633 shares, while 40 institutional investors sold positions of 10,812,488 shares during the same period.