Desktop Metal Inc. [NYSE: DM] price surged by 36.00 percent to reach at $0.54. The company report on March 1, 2023 that Desktop Metal Announces Fourth Quarter and Full Year 2022 Financial Results and Initiates 2023 Guidance.
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Record fourth quarter revenue of $60.6 million, up 6.8% from the fourth quarter of 2021.
Record full year 2022 revenue of $209.0 million, up 86.0% from 2021.
A sum of 36287398 shares traded at recent session while its average daily volume was at 3.51M shares. Desktop Metal Inc. shares reached a high of $2.12 and dropped to a low of $1.735 until finishing in the latest session at $2.04.
The one-year DM stock forecast points to a potential upside of 30.85. The average equity rating for DM stock is currently 2.60, 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 $2.95 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 2.60. 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.
Morgan Stanley have made an estimate for Desktop Metal Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 06, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on December 16, 2022, representing the official price target for Desktop Metal Inc. stock. Previously, the target price had yet another raise to $2.80, while Credit Suisse analysts kept a Neutral rating on DM stock.
The Average True Range (ATR) for Desktop Metal Inc. is set at 0.17, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 3.43. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.63.
DM Stock Performance Analysis:
Desktop Metal Inc. [DM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.93. With this latest performance, DM shares gained by 21.43% in over the last four-week period, additionally sinking by -36.25% over the last 6 months – not to mention a drop of -50.12% 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 62.23, with the RSI for the last a single of trading hit 68.42, and the three-weeks RSI is set at 58.53 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 1.6476, while it was recorded at 1.6060 for the last single week of trading, and 2.2484 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 2.90 and a Current Ratio set at 3.80.
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 $275 million, or 49.80% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: VANGUARD GROUP INC with ownership of 22,051,032, which is approximately 1.743% of the company’s market cap and around 6.60% of the total institutional ownership; BLACKROCK INC., holding 20,629,705 shares of the stock with an approximate value of $42.09 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $29.37 million in DM stock with ownership of nearly -0.06% of the company’s market capitalization.
87 institutional holders increased their position in Desktop Metal Inc. [NYSE:DM] by around 7,361,210 shares. Additionally, 92 investors decreased positions by around 8,742,260 shares, while 64 investors held positions by with 118,474,280 shares. The mentioned changes placed institutional holdings at 134,577,750 shares, according to the latest SEC report filing. DM stock had 24 new institutional investments in for a total of 1,108,735 shares, while 33 institutional investors sold positions of 1,902,182 shares during the same period.