Desktop Metal Inc. [DM] is 76.47% higher this YTD. Is it still time to buy?

Desktop Metal Inc. [NYSE: DM] jumped around 0.15 points on Monday, while shares priced at $2.40 at the close of the session, up 6.67%. The company report on March 6, 2023 that Desktop Metal Launches Live Suite™, an End-to-End Software Hub that Delivers Generative AI Solutions for Additive Manufacturing 2.0.

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Live Suite is a new package of powerful software programs that allows users of Desktop Metal, Desktop Health, ETEC and ExOne 3D printing systems to seamlessly manage their build preparation, printers, accessories, and processes with success in one cloud-based location.

Desktop Metal, Inc. (NYSE: DM), a global leader in additive manufacturing technologies for mass production, today announced the launch of Live Suite™ — a package of premium software applications with all-new functionality for users of the company’s Additive Manufacturing 2.0 systems across Team DM brands.

Desktop Metal Inc. stock is now 76.47% up from its year-to-date (YTD) trading value. DM Stock saw the intraday high of $2.535 and lowest of $2.20 per share. The company’s 52-week high price is 5.28, which means current price is +83.21% above from all time high which was touched on 03/06/23.

Compared to the average trading volume of 4.28M shares, DM reached a trading volume of 10204886 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 $2.98 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 0.20, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 0.64.

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 62.16. With this latest performance, DM shares gained by 8.11% in over the last four-week period, additionally sinking by -21.82% over the last 6 months – not to mention a drop of -37.50% 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 70.64, with the RSI for the last a single of trading hit 77.74, and the three-weeks RSI is set at 65.69 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 1.69, while it was recorded at 1.94 for the last single week of trading, and 2.25 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 2.90 and a Current Ratio set at 4.00.

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 $323 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 $49.51 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $34.56 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.


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