Desktop Metal Inc. [NYSE: DM] gained 1.16% on the last trading session, reaching $2.62 price per share at the time. The company report on August 8, 2022 that Desktop Metal Announces Second Quarter 2022 Financial Results.
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Record revenue of $57.7 million, up 204% from second quarter 2021, and an increase of 32% sequentially from first quarter 2022.
GAAP gross margin of 14.6%; non-GAAP gross margin of 26.7%, increasing over 170 basis points from second quarter 2021.
Desktop Metal Inc. represents 312.02 million in outstanding shares, while the company has a total market value of $824.70 million with the latest information. DM stock price has been found in the range of $2.52 to $2.8182.
If compared to the average trading volume of 9.75M shares, DM reached a trading volume of 7300239 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 2.20. 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 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 0.19, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 5.70. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 0.66.
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 16.44. With this latest performance, DM shares gained by 15.42% in over the last four-week period, additionally sinking by -34.99% over the last 6 months – not to mention a drop of -71.71% 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 60.66, with the RSI for the last a single of trading hit 68.23, and the three-weeks RSI is set at 55.87 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 2.28, while it was recorded at 2.48 for the last single week of trading, and 4.16 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 $330 million, or 41.80% 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 $45.84 million in DM stocks shares; and BLACKROCK INC., currently with $38.23 million in DM stock with ownership of nearly -1.766% of the company’s market capitalization.
98 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 6,352,993 shares. Additionally, 103 investors decreased positions by around 14,931,223 shares, while 65 investors held positions by with 104,609,128 shares. The mentioned changes placed institutional holdings at 125,893,344 shares, according to the latest SEC report filing. DM stock had 35 new institutional investments in for a total of 3,448,393 shares, while 40 institutional investors sold positions of 8,469,883 shares during the same period.