Sculptor Capital LP Sells 127,710 Shares of Desktop Metal, Inc. (NYSE:DM)

Sculptor Capital LP reduced its holdings in shares of Desktop Metal, Inc. (NYSE:DM) by 90.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,190 shares of the pipeline company’s stock after selling 127,710 shares during the quarter. Sculptor Capital LP’s holdings in Desktop Metal were worth $59,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Desktop Metal in the 2nd quarter valued at approximately $25,000. Point72 DIFC Ltd acquired a new stake in Desktop Metal during the 2nd quarter valued at $68,000. Cubist Systematic Strategies LLC acquired a new stake in Desktop Metal during the 2nd quarter valued at $150,000. Levin Capital Strategies L.P. acquired a new stake in Desktop Metal during the 1st quarter valued at $35,000. Finally, AQR Capital Management LLC lifted its holdings in Desktop Metal by 217.8% during the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 40,478 shares during the last quarter. 56.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $5.50 price target (down previously from $12.50) on shares of Desktop Metal in a research report on Monday, July 8th. StockNews.com assumed coverage on Desktop Metal in a research report on Tuesday, June 18th. They issued a “sell” rating on the stock. Finally, Craig Hallum reiterated a “hold” rating on shares of Desktop Metal in a research report on Monday, July 1st.

Insider Activity

In other Desktop Metal news, CFO Jason M. Cole sold 24,064 shares of Desktop Metal stock in a transaction on Monday, August 5th. The stock was sold at an average price of $4.23, for a total transaction of $101,790.72. Following the completion of the transaction, the chief financial officer now owns 69,352 shares in the company, valued at $293,358.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.22% of the stock is currently owned by company insiders.

Desktop Metal Stock Performance

Shares of DM opened at $4.65 on Friday. The stock’s 50-day simple moving average is $4.50 and its 200 day simple moving average is $5.84. The stock has a market capitalization of $154.66 million, a price-to-earnings ratio of -0.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 2.60. Desktop Metal, Inc. has a 52-week low of $3.62 and a 52-week high of $15.30.

Desktop Metal (NYSE:DM) last announced its quarterly earnings data on Tuesday, July 30th. The pipeline company reported ($0.53) EPS for the quarter. The firm had revenue of $38.93 million for the quarter. Desktop Metal had a negative net margin of 215.57% and a negative return on equity of 35.69%. Research analysts forecast that Desktop Metal, Inc. will post -2.15 EPS for the current fiscal year.

Desktop Metal Profile

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.