Desktop Metal Inc. [DM] is -51.11% lower this YTD. Is it still time to buy?


Desktop Metal Inc. [NYSE: DM] gained 6.61% or 0.15 points to close at $2.42 with a heavy trading volume of 4308621 shares. The company report on July 12, 2022 that Desktop Metal Announces CFO Transition Plan.

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Desktop Metal, Inc. (NYSE: DM) today announced that James Haley will be transitioning from his role as Chief Financial Officer of the Company to pursue other interests. In order to ensure a smooth transition, Haley will remain in his current role through the earlier of December 31, 2022 or the date a new CFO begins employment, and he will serve in an advisory role for a period thereafter. Desktop Metal has retained a leading executive search firm to assist in a thorough and thoughtful search for a successor.

“We sincerely thank James for his invaluable contributions and dedication to Desktop Metal,” said Ric Fulop, Founder and CEO of Desktop Metal. “James helped navigate Desktop Metal’s first years as a public company and played a key role in creating a high-performance finance organization. We are fortunate to have benefited from his talents and are appreciative he will be staying on to assist with the transition.”.

It opened the trading session at $2.32, the shares rose to $2.44 and dropped to $2.22, the range by which the price of stock traded the whole day. The daily chart for DM points out that the company has recorded -46.46% loss over the past six months. However, it is still -92.06% lower than its most recent low trading price.

If we look at the average trading volume of 10.00M shares, DM reached to a volume of 4308621 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 $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 0.23, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 4.97. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.69.

Trading performance analysis for DM stock

Desktop Metal Inc. [DM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.61. With this latest performance, DM shares gained by 3.86% in over the last four-week period, additionally sinking by -46.46% over the last 6 months – not to mention a drop of -76.27% 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 52.83, with the RSI for the last a single of trading hit 55.58, and the three-weeks RSI is set at 50.01 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 2.33, while it was recorded at 2.35 for the last single week of trading, and 4.64 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 2.60 and a Current Ratio set at 3.40.

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

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%.

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

There are presently around $286 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 7.60% of the total institutional ownership; KPCB XVI ASSOCIATES, LLC, holding 17,496,150 shares of the stock with an approximate value of $39.72 million in DM stocks shares; and BLACKROCK INC., currently with $33.13 million in DM stock with ownership of nearly -1.766% of the company’s market capitalization.

95 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 6,459,015 shares. Additionally, 110 investors decreased positions by around 18,407,041 shares, while 57 investors held positions by with 100,980,878 shares. The mentioned changes placed institutional holdings at 125,846,934 shares, according to the latest SEC report filing. DM stock had 33 new institutional investments in for a total of 3,445,684 shares, while 38 institutional investors sold positions of 7,814,105 shares during the same period.