Desktop Metal Inc. [NYSE: DM] jumped around 0.24 points on Wednesday, while shares priced at $7.14 at the close of the session, up 3.48%. The company report on October 6, 2021 that European Demand for Desktop Metal Binder Jetting Solutions for Mid-Volume Metal Parts Manufacturing Gains Momentum.
Growing Adoption of Desktop Metal’s Shop System Is Enabling Affordable, Batch Production of High-Quality Metal Parts Throughout Europe.
As Desktop Metal (NYSE: DM) continues to advance Additive Manufacturing 2.0 (AM 2.0) to reshape the future of manufacturing with mass production and turnkey AM solutions, the company is seeing growing European demand for metal binder jetting, including the Shop System™, the world’s first metal binder jetting system designed for machine shops.
Desktop Metal Inc. stock is now -58.49% down from its year-to-date (YTD) trading value. DM Stock saw the intraday high of $7.17 and lowest of $6.905 per share. The company’s 52-week high price is 34.94, which means current price is +6.57% above from all time high which was touched on 02/08/21.
Compared to the average trading volume of 5.11M shares, DM reached a trading volume of 4279330 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]?
Oppenheimer have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on October 08, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on June 25, 2021, representing the official price target for Desktop Metal Inc. stock. Previously, the target price had yet another raise to $11, while Lake Street analysts kept a Sell rating on DM stock.
The Average True Range (ATR) for Desktop Metal Inc. is set at 0.33, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 40.50. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 1.94.
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 4.69. With this latest performance, DM shares dropped by -8.81% in over the last four-week period, additionally sinking by -43.20% over the last 6 months – not to mention a drop of -33.58% 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 42.43, with the RSI for the last a single of trading hit 45.70, and the three-weeks RSI is set at 41.04 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 7.95, while it was recorded at 7.03 for the last single week of trading, and 14.20 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 12.90 and a Current Ratio set at 13.50.
Insider trade positions for Desktop Metal Inc. [DM]
There are presently around $817 million, or 51.50% 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 19,410,631, which is approximately -31.691% of the company’s market cap and around 7.60% of the total institutional ownership; KPCB XVI ASSOCIATES, LLC, holding 17,496,150 shares of the stock with an approximate value of $124.92 million in DM stocks shares; and VANGUARD GROUP INC, currently with $96.14 million in DM stock with ownership of nearly 37.38% of the company’s market capitalization.
147 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 31,199,078 shares. Additionally, 70 investors decreased positions by around 14,013,647 shares, while 27 investors held positions by with 69,239,607 shares. The mentioned changes placed institutional holdings at 114,452,332 shares, according to the latest SEC report filing. DM stock had 89 new institutional investments in for a total of 9,211,461 shares, while 35 institutional investors sold positions of 2,929,156 shares during the same period.