Desktop Metal Inc. [NYSE: DM] closed the trading session at $2.25 on 03/16/23. The day’s price range saw the stock hit a low of $2.09, while the highest price level was $2.29. The company report on March 15, 2023 that Desktop Metal Qualifies Copper Alloy C18150 on the Production System™ with Sandvik Additive Manufacturing and Top Five Global Automaker.
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Also known as chromium zirconium copper, C18150 is a high-strength, high-conductivity copper alloy commonly used in thermal transfer applications, such as electrical connectors, welding electrodes, as well as other electrical and electronic components.
A global automaker is now testing a unique 3D printed part design, which is being developed for a future production application, in C18150 using Sandvik’s Osprey® metal powder.
The stocks have a year to date performance of 65.44 percent and weekly performance of 2.74 percent. The stock has been moved at -32.84 percent over the last six months. The stock has performed 25.00 percent around the most recent 30 days and changed 36.36 percent over the most recent 3-months.
If compared to the average trading volume of 4.44M shares, DM reached to a volume of 2817144 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $2.64 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 0.22, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 3.61. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 0.55.
DM stock trade performance evaluation
Desktop Metal Inc. [DM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.74. With this latest performance, DM shares gained by 25.00% in over the last four-week period, additionally sinking by -32.84% over the last 6 months – not to mention a drop of -40.63% 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 59.01, with the RSI for the last a single of trading hit 60.04, and the three-weeks RSI is set at 57.76 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 1.84, while it was recorded at 2.16 for the last single week of trading, and 2.26 for the last 200 days.
Desktop Metal Inc. [DM]: An insightful look at the core 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 per share (EPS) analysis for Desktop Metal Inc. [DM] stock
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 Ownership positions
There are presently around $303 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 $46.42 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $32.4 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 7,364,891 shares. Additionally, 92 investors decreased positions by around 8,742,260 shares, while 64 investors held positions by with 118,475,599 shares. The mentioned changes placed institutional holdings at 134,582,750 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.