Desktop Metal Inc. [NYSE: DM] traded at a low on 09/07/23, posting a -2.98 loss after which it closed the day’ session at $1.63. The company report on September 5, 2023 at 8:00 AM that Desktop Metal Announces Special Meeting of Stockholders to Vote on Proposed Merger with Stratasys.
Combination with Stratasys Presents Significant Growth Opportunities and Value Creation for Stockholders.
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The results of the trading session contributed to over 3714183 shares changing hands. Over the past one week, the price volatility of Desktop Metal Inc. stands at 5.83% while the volatility over the past one month is 5.63%.
The market cap for DM stock reached $532.50 million, with 321.66 million shares outstanding and 268.41 million shares in the current float. Compared to the average trading volume of 2.70M shares, DM reached a trading volume of 3714183 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 $2.50 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 2.80. 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.
The Average True Range (ATR) for Desktop Metal Inc. is set at 0.10, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 2.63. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 0.39.
How has DM stock performed recently?
Desktop Metal Inc. [DM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.68. With this latest performance, DM shares dropped by -4.12% in over the last four-week period, additionally sinking by -34.27% over the last 6 months – not to mention a drop of -46.38% 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 46.28, with the RSI for the last a single of trading hit 46.22, and the three-weeks RSI is set at 45.72 for Desktop Metal Inc. [DM]. The present Moving Average for the last 50 days of trading for this stock 1.7224, while it was recorded at 1.7240 for the last single week of trading, and 1.8506 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 2.30 and a Current Ratio set at 3.50.
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]
The top three institutional holders of DM stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in DM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in DM stock with ownership which is approximately 5.7381%.
