For Desktop Metal Inc. [DM], Analyst sees a rise to $2.80. What next?

Desktop Metal Inc. [NYSE: DM] traded at a high on 10/25/22, posting a 5.83 gain after which it closed the day’ session at $2.54. The company report on October 17, 2022 that Desktop Metal to Release Third Quarter 2022 Financial Results on Wednesday, November 9, 2022.


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Desktop Metal, Inc. (NYSE: DM) today announced it will report financial results for the third quarter ended September 30, 2022 after the market closes on Wednesday, November 9, 2022. At this time, a summary presentation will also be available online at the Events & Presentations section of Desktop Metal’s Investor Relations website, https://ir.desktopmetal.com.

Desktop Metal will host a conference call on the same day at 4:30 p.m. ET to discuss the results. Participants may access the call at 1-888-999-5318, international callers may use 1-848-280-6460, and request to join the Desktop Metal financial results conference call. A simultaneous webcast of the conference call and the accompanying summary presentation may be accessed online at the Events & Presentations section of https://ir.desktopmetal.com. A replay will be available shortly after the conclusion of the conference call at the same website.

The results of the trading session contributed to over 4633371 shares changing hands. Over the past one week, the price volatility of Desktop Metal Inc. stands at 7.40% while the volatility over the past one month is 7.42%.

The market cap for DM stock reached $769.52 million, with 313.56 million shares outstanding and 270.65 million shares in the current float. Compared to the average trading volume of 4.58M shares, DM reached a trading volume of 4633371 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 $3.76 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.

Credit Suisse have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 17, 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 0.20, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 4.19. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.84.

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 0.79. With this latest performance, DM shares gained by 4.53% in over the last four-week period, additionally sinking by -30.03% over the last 6 months – not to mention a drop of -65.68% 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 47.50, with the RSI for the last a single of trading hit 50.65, and the three-weeks RSI is set at 46.84 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 2.92, while it was recorded at 2.45 for the last single week of trading, and 3.21 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 3.40 and a Current Ratio set at 4.30.

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 $297 million, or 44.00% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: BLACKROCK INC. with ownership of 21,629,365, which is approximately 48.219% of the company’s market cap and around 7.60% of the total institutional ownership; VANGUARD GROUP INC, holding 20,997,993 shares of the stock with an approximate value of $53.34 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $36.59 million in DM stock with ownership of nearly 0% of the company’s market capitalization.

114 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 19,334,203 shares. Additionally, 84 investors decreased positions by around 9,494,034 shares, while 65 investors held positions by with 87,940,413 shares. The mentioned changes placed institutional holdings at 116,768,650 shares, according to the latest SEC report filing. DM stock had 36 new institutional investments in for a total of 3,106,219 shares, while 41 institutional investors sold positions of 4,797,204 shares during the same period.

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