Craig Hallum Reiterates Hold Rating for Desktop Metal (NYSE:DM)

Desktop Metal (NYSE:DM)‘s stock had its “hold” rating reiterated by equities researchers at Craig Hallum in a research note issued on Monday, Benzinga reports.

Several other equities analysts have also recently commented on the company. Cantor Fitzgerald boosted their target price on Desktop Metal from $1.25 to $12.50 and gave the stock an “overweight” rating in a research report on Tuesday, June 11th. StockNews.com started coverage on Desktop Metal in a research report on Tuesday, June 18th. They set a “sell” rating for the company.

Desktop Metal Stock Performance

Shares of DM opened at $4.32 on Monday. The firm has a market cap of $142.73 million, a PE ratio of -0.44 and a beta of 0.61. The stock’s fifty day moving average price is $5.79 and its two-hundred day moving average price is $6.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.83 and a quick ratio of 1.64. Desktop Metal has a 1 year low of $3.62 and a 1 year high of $20.00.

Desktop Metal (NYSE:DM) last issued its earnings results on Thursday, May 9th. The pipeline company reported ($0.50) earnings per share (EPS) for the quarter. Desktop Metal had a negative net margin of 170.77% and a negative return on equity of 29.78%. The firm had revenue of $40.60 million during the quarter. During the same quarter in the previous year, the firm posted ($1.10) EPS. On average, equities research analysts forecast that Desktop Metal will post -1.46 EPS for the current year.

Insiders Place Their Bets

In other Desktop Metal news, CFO Jason M. Cole sold 18,000 shares of Desktop Metal stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total transaction of $111,600.00. Following the completion of the sale, the chief financial officer now owns 87,168 shares of the company’s stock, valued at $540,441.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On Desktop Metal

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Levin Capital Strategies L.P. bought a new position in Desktop Metal during the 1st quarter valued at approximately $35,000. Empowered Funds LLC bought a new position in Desktop Metal during the 1st quarter valued at approximately $45,000. Keating Investment Counselors Inc. bought a new position in Desktop Metal during the 1st quarter valued at approximately $72,000. Cetera Advisors LLC bought a new position in Desktop Metal during the 1st quarter valued at approximately $281,000. Finally, Summit Financial LLC raised its position in Desktop Metal by 8.8% during the 1st quarter. Summit Financial LLC now owns 344,574 shares of the pipeline company’s stock valued at $303,000 after purchasing an additional 27,754 shares during the last quarter. Institutional investors own 56.31% of the company’s stock.

About Desktop Metal

Desktop Metal, Inc manufactures and sells additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Shop System, an entry-level metal 3D printing using binder jetting; X-series platform that provides binder jet 3D printing of specialty materials, including metals and ceramics, and tools; and P-Series offers high-speed metal 3D printing.