Desktop Metal Inc [NYSE: DM] surged by $2.25 during the normal trading session on while it closed the day at $4.52.
Desktop Metal Inc stock has also gained 64.36% of its value over the past 7 days. However, DM stock has inclined by 45.81% in the 3 months of the year. Over the past six months meanwhile, it has lost -2.59% and gained 93.16% year-on date.
The market cap for DM stock reached $150.71 million, with 33.31 million shares outstanding and 19.11 million shares in the current float. Compared to the average trading volume of 276.25K shares, DM reached a trading volume of 53357199 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 $5.00 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 3.00. 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 0.36, with the Price to Sales ratio for DM stock in the period of the last 12 months amounting to 0.90. The Price to Book ratio for the last quarter was 2.08, with the Price to Cash per share for the same quarter was set at 0.92.
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 64.36. With this latest performance, DM shares gained by 105.45% in over the last four-week period, additionally sinking by -2.59% over the last 6 months – not to mention a drop of -40.20% 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 78.66, with the RSI for the last a single of trading hit 83.66, and the three-weeks RSI is set at 73.64 for Desktop Metal Inc [DM]. The present Moving Average for the last 50 days of trading for this stock 2.38, while it was recorded at 2.83 for the last single week of trading, and 3.85 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 1.02 and a Current Ratio set at 2.34.
Desktop Metal Inc [DM]: Institutional Ownership
There are presently around $35.22%, or 58.58%% of DM stock, in the hands of institutional investors. The top three institutional holders of DM stocks are: IONIC CAPITAL MANAGEMENT LLC with ownership of 1.75 million shares, which is approximately 5.2869%. NEA MANAGEMENT COMPANY, LLC, holding 1.44 million shares of the stock with an approximate value of $$5.95 million in DM stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $$4.56 million in DM stock with ownership which is approximately 3.3395%.
