Desktop Metal Inc. [NYSE: DM] loss -6.54% or -0.88 points to close at $12.57 with a heavy trading volume of 4865083 shares. The company report on May 18, 2021 that Desktop Metal Announces First Quarter 2021 Financial Results.
Revenue up 35% from the fourth quarter of 2020 to $11.3 million.
Expanded materials portfolio to over 225 materials across metals, composites, polymers, ceramics, biocompatible materials, and now wood and elastomers.
It opened the trading session at $13.40, the shares rose to $14.0385 and dropped to $12.40, the range by which the price of stock traded the whole day. The daily chart for DM points out that the company has recorded 12.94% gains over the past six months. However, it is still -26.84% lower than its most recent low trading price.
If we look at the average trading volume of 3.90M shares, DM reached to a volume of 4865083 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DM shares is $18.20 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 2.20. 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.
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 1.20, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 113.02. The Price to Book ratio for the last quarter was 3.19, with the Price to Cash per share for the same quarter was set at 2.29.
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 -5.98. With this latest performance, DM shares dropped by -11.91% in over the last four-week period, additionally plugging by 12.94% over the last 6 months – not to mention a rise of 26.46% 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 45.37, with the RSI for the last a single of trading hit 45.99, and the three-weeks RSI is set at 44.36 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 14.20, while it was recorded at 13.02 for the last single week of trading, and 15.51 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 15.30 and a Current Ratio set at 15.80.
An analysis of insider ownership at Desktop Metal Inc. [DM]
There are presently around $1,226 million, or 46.10% 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 0% of the company’s market cap and around 15.00% of the total institutional ownership; KPCB XVI ASSOCIATES, LLC, holding 17,721,150 shares of the stock with an approximate value of $222.75 million in DM stocks shares; and VANGUARD GROUP INC, currently with $123.21 million in DM stock with ownership of nearly New of the company’s market capitalization.
110 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 26,965,906 shares. Additionally, 52 investors decreased positions by around 8,613,852 shares, while 17 investors held positions by with 61,963,470 shares. The mentioned changes placed institutional holdings at 97,543,228 shares, according to the latest SEC report filing. DM stock had 76 new institutional investments in for a total of 21,464,498 shares, while 24 institutional investors sold positions of 2,676,379 shares during the same period.