Desktop Metal (NYSE:DM) Stock Crosses Below 50 Day Moving Average – Here’s Why

Desktop Metal, Inc. (NYSE:DM)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.05 and traded as low as $2.25. Desktop Metal shares last traded at $2.34, with a volume of 297,348 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Desktop Metal from a “sell” rating to a “hold” rating in a report on Thursday, December 12th.

Desktop Metal Trading Up 0.9 %

The business has a 50 day moving average of $4.05 and a 200 day moving average of $4.41. The firm has a market capitalization of $78.02 million, a price-to-earnings ratio of -0.21 and a beta of 0.55. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02.

Institutional Trading of Desktop Metal

A number of hedge funds have recently modified their holdings of DM. Headlands Technologies LLC bought a new stake in shares of Desktop Metal in the 2nd quarter valued at $25,000. Point72 DIFC Ltd acquired a new position in Desktop Metal in the second quarter valued at about $68,000. Cubist Systematic Strategies LLC bought a new stake in shares of Desktop Metal in the second quarter worth about $150,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Desktop Metal during the second quarter worth about $208,000. Finally, XTX Topco Ltd bought a new position in shares of Desktop Metal during the 3rd quarter valued at about $214,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

Desktop Metal Company 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.