Desktop Metal Inc. [NYSE: DM] price plunged by -8.37 percent to reach at -$0.2. The company report on November 9, 2022 that Desktop Metal Announces Third Quarter 2022 Financial Results.
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Revenue of $47.1 million, up 85% from third quarter 2021.
Announced strategic collaboration with Align Technology to bring digital dentistry and workflows for printing to the mass market.
A sum of 3864751 shares traded at recent session while its average daily volume was at 4.47M shares. Desktop Metal Inc. shares reached a high of $2.35 and dropped to a low of $2.14 until finishing in the latest session at $2.19.
The one-year DM stock forecast points to a potential upside of 41.76. The average equity rating for DM stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 3.74. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 0.82.
DM Stock Performance Analysis:
Desktop Metal Inc. [DM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.69. With this latest performance, DM shares dropped by -10.25% in over the last four-week period, additionally plugging by 52.08% over the last 6 months – not to mention a drop of -75.14% 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 35.51, with the RSI for the last a single of trading hit 29.37, and the three-weeks RSI is set at 39.01 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 2.73, while it was recorded at 2.39 for the last single week of trading, and 3.12 for the last 200 days.
Insight into Desktop Metal Inc. 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.
DM Stock EPS
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%.
Desktop Metal Inc. [DM] Insider Position Details
There are presently around $252 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 $45.99 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $31.55 million in DM stock with ownership of nearly 0% of the company’s market capitalization.
107 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 18,277,493 shares. Additionally, 87 investors decreased positions by around 10,606,824 shares, while 66 investors held positions by with 86,388,888 shares. The mentioned changes placed institutional holdings at 115,273,205 shares, according to the latest SEC report filing. DM stock had 32 new institutional investments in for a total of 3,033,597 shares, while 41 institutional investors sold positions of 4,381,066 shares during the same period.