Wall Street Analyst Downgrade Desktop Metal Inc. [DM]. What else is Wall St. saying

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Desktop Metal Inc. [NYSE: DM] loss -3.25% or -0.22 points to close at $6.55 with a heavy trading volume of 6408413 shares. The company report on November 23, 2021 that INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Desktop Metal, Inc. and Encourages Investors with Losses to Contact the Firm.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Desktop Metal, Inc. (“Desktop Metal” or “the Company”) (NYSE: DM) for violations of the securities laws.


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The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Desktop Metal announced an independent investigation based on internal whistleblower complaints on November 8, 2021. The investigation concerns the Company’s EnvisionTec subsidiary. Following this announcement, the CEO of EnvisionTec resigned on November 15, 2021, and the Company admitted compliance issues and FDA regulatory interest in EnvisionTec shipments.

It opened the trading session at $6.70, the shares rose to $6.835 and dropped to $6.385, the range by which the price of stock traded the whole day. The daily chart for DM points out that the company has recorded -50.11% loss over the past six months. However, it is still -1.87% lower than its most recent low trading price.

If we look at the average trading volume of 5.99M shares, DM reached to a volume of 6408413 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 $10.25 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.

Cross Research have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 16, 2021. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Perform. The new note on the price target was released on October 08, 2021, representing the official price target for Desktop Metal Inc. stock. Previously, the target price had yet another raise to $14, while Credit Suisse analysts kept a Neutral rating on DM stock.

The Average True Range (ATR) for Desktop Metal Inc. is set at 0.56, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 43.97. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 1.64.

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 -4.10. With this latest performance, DM shares dropped by -11.49% in over the last four-week period, additionally sinking by -50.11% over the last 6 months – not to mention a drop of -43.73% 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 37.91, with the RSI for the last a single of trading hit 32.32, and the three-weeks RSI is set at 40.66 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 7.52, while it was recorded at 6.86 for the last single week of trading, and 11.97 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 12.90 and a Current Ratio set at 13.50.

Desktop Metal Inc. [DM]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Desktop Metal Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DM.

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An analysis of insider ownership at Desktop Metal Inc. [DM]

There are presently around $893 million, or 41.00% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: KPCB XVI ASSOCIATES, LLC with ownership of 17,496,150, which is approximately 0% of the company’s market cap and around 6.40% of the total institutional ownership; VANGUARD GROUP INC, holding 16,024,997 shares of the stock with an approximate value of $104.96 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $94.37 million in DM stock with ownership of nearly -25.775% of the company’s market capitalization.

142 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 30,257,565 shares. Additionally, 110 investors decreased positions by around 30,342,651 shares, while 42 investors held positions by with 75,698,073 shares. The mentioned changes placed institutional holdings at 136,298,289 shares, according to the latest SEC report filing. DM stock had 52 new institutional investments in for a total of 10,854,175 shares, while 54 institutional investors sold positions of 15,913,083 shares during the same period.

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