Desktop Metal Inc [DM] is -2.90% lower this YTD. Is it still time to buy?

Desktop Metal Inc [NYSE: DM] surged by $0.07 during the normal trading session on while it closed the day at $0.73. The company report on March 15, 2024 at 7:00 AM that Desktop Metal Announces Fourth Quarter and Full Year 2023 Financial Results.

Revenue of $52.3 million, down from $60.6 million in the same quarter a year ago, and up 22% sequentially over the prior quarter.

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Year-over-year improvements to net loss, adjusted EBITDA, gross margins, non-GAAP gross margins, operating expenses, and operating cash flow following more than $150 million in cost reduction efforts announced since June 2022.

Desktop Metal Inc stock has also gained 10.97% of its value over the past 7 days. However, DM stock has declined by -0.76% in the 3 months of the year. Over the past six months meanwhile, it has lost -51.06% and lost -2.90% year-on date.

The market cap for DM stock reached $236.80 million, with 325.27 million shares outstanding and 204.87 million shares in the current float. Compared to the average trading volume of 3.84M shares, DM reached a trading volume of 6119779 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 $1.12 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 2.00. 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 0.07, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.26.

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 10.97. With this latest performance, DM shares gained by 32.34% in over the last four-week period, additionally sinking by -51.06% over the last 6 months – not to mention a drop of -64.60% 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 60.86, with the RSI for the last a single of trading hit 66.12, and the three-weeks RSI is set at 57.03 for Desktop Metal Inc [DM]. The present Moving Average for the last 50 days of trading for this stock 0.6185, while it was recorded at 0.6593 for the last single week of trading, and 1.1805 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 1.90 and a Current Ratio set at 3.08.

Earnings per share (EPS) analysis for Desktop Metal Inc [DM] stock

With the latest financial reports released by the company, Desktop Metal Inc posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. 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]: Institutional Ownership

The top three institutional holders of DM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DM stock with ownership which is approximately 5.8325%.