Point72 DIFC Ltd Purchases Shares of 16,362 Desktop Metal, Inc. (NYSE:DM)

Point72 DIFC Ltd acquired a new position in shares of Desktop Metal, Inc. (NYSE:DM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,362 shares of the pipeline company’s stock, valued at approximately $68,000.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Desktop Metal during the second quarter worth $25,000. Levin Capital Strategies L.P. bought a new stake in shares of Desktop Metal in the 1st quarter valued at about $35,000. Empowered Funds LLC acquired a new stake in Desktop Metal in the 1st quarter valued at about $45,000. Summit Securities Group LLC acquired a new stake in Desktop Metal in the 2nd quarter valued at about $258,000. Finally, Keating Investment Counselors Inc. bought a new position in Desktop Metal during the first quarter worth about $72,000. Institutional investors own 56.31% of the company’s stock.

Wall Street Analyst Weigh In

DM has been the topic of several research analyst reports. Craig Hallum restated a “hold” rating on shares of Desktop Metal in a research note on Monday, July 1st. StockNews.com initiated coverage on Desktop Metal in a research note on Tuesday, June 18th. They issued a “sell” rating on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $5.50 price objective (down from $12.50) on shares of Desktop Metal in a research report on Monday, July 8th.

Insiders Place Their Bets

In other news, CFO Jason M. Cole sold 24,064 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $4.23, for a total value of $101,790.72. Following the completion of the sale, the chief financial officer now owns 69,352 shares of the company’s stock, valued at $293,358.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.22% of the company’s stock.

Desktop Metal Stock Up 0.9 %

Desktop Metal stock opened at $4.69 on Friday. The company’s 50-day moving average price is $4.48 and its two-hundred day moving average price is $5.83. The company has a quick ratio of 1.31, a current ratio of 2.60 and a debt-to-equity ratio of 1.13. The stock has a market cap of $155.99 million, a P/E ratio of -0.47 and a beta of 0.61. Desktop Metal, Inc. has a twelve month low of $3.62 and a twelve month high of $15.30.

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

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.