Market Analysts see Desktop Metal Inc. [DM] gaining to $5. Time to buy?


Desktop Metal Inc. [NYSE: DM] traded at a low on 06/13/22, posting a -11.32 loss after which it closed the day’ session at $1.88. The company report on June 13, 2022 that Desktop Metal Announces Strategic Integration and Cost Optimization Initiative to Accelerate Additive Manufacturing 2.0 and Drive Value to Shareholders.

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Simplified operational structure, to include a consolidated global facilities footprint, reducing expenses and supporting continued revenue growth, driving margin expansion and path to profitability.

Workforce reductions of approximately 12% to drive cost synergies and productivity gains from integration of businesses acquired in 2021.

The results of the trading session contributed to over 8286850 shares changing hands. Over the past one week, the price volatility of Desktop Metal Inc. stands at 10.55% while the volatility over the past one month is 10.60%.

The market cap for DM stock reached $647.72 million, with 312.02 million shares outstanding and 260.15 million shares in the current float. Compared to the average trading volume of 9.36M shares, DM reached a trading volume of 8286850 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 $4.38 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 2.40. 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 Buy, with their previous recommendation back on January 10, 2022. The new note on the price target was released on January 10, 2022, representing the official price target for Desktop Metal Inc. stock.

The Average True Range (ATR) for Desktop Metal Inc. is set at 0.29, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 4.47. The Price to Book ratio for the last quarter was 0.50, with the Price to Cash per share for the same quarter was set at 0.60.

How has DM stock performed recently?

Desktop Metal Inc. [DM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.29. With this latest performance, DM shares gained by 17.50% in over the last four-week period, additionally sinking by -67.64% over the last 6 months – not to mention a drop of -85.16% 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 38.44, with the RSI for the last a single of trading hit 38.02, and the three-weeks RSI is set at 38.54 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 3.08, while it was recorded at 2.16 for the last single week of trading, and 5.19 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 2.60 and a Current Ratio set at 3.40.

Earnings analysis for Desktop Metal Inc. [DM]

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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Desktop Metal Inc. go to 46.00%.

Insider trade positions for Desktop Metal Inc. [DM]

There are presently around $268 million, or 41.90% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: VANGUARD GROUP INC with ownership of 19,586,639, which is approximately 1.959% of the company’s market cap and around 7.50% of the total institutional ownership; KPCB XVI ASSOCIATES, LLC, holding 17,496,150 shares of the stock with an approximate value of $37.09 million in DM stocks shares; and BLACKROCK INC., currently with $30.94 million in DM stock with ownership of nearly -1.766% of the company’s market capitalization.

96 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 6,454,648 shares. Additionally, 111 investors decreased positions by around 19,862,006 shares, while 56 investors held positions by with 100,283,679 shares. The mentioned changes placed institutional holdings at 126,600,333 shares, according to the latest SEC report filing. DM stock had 33 new institutional investments in for a total of 3,435,684 shares, while 40 institutional investors sold positions of 7,833,958 shares during the same period.