Short Interest in Desktop Metal, Inc. (NYSE:DM) Expands By 124.5%

Desktop Metal, Inc. (NYSE:DMGet Rating) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 57,350,000 shares, a growth of 124.5% from the April 30th total of 25,540,000 shares. Based on an average daily trading volume, of 9,300,000 shares, the days-to-cover ratio is presently 6.2 days. Currently, 26.5% of the company’s shares are short sold.

In other Desktop Metal news, CEO Ric Fulop bought 128,850 shares of Desktop Metal stock in a transaction that occurred on Wednesday, March 16th. The shares were purchased at an average cost of $4.08 per share, for a total transaction of $525,708.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.25% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DM. BlackRock Inc. lifted its holdings in Desktop Metal by 55.2% during the 4th quarter. BlackRock Inc. now owns 14,855,242 shares of the pipeline company’s stock worth $73,533,000 after buying an additional 5,281,744 shares during the last quarter. Waldron Private Wealth LLC bought a new position in Desktop Metal during the 4th quarter worth approximately $22,223,000. Morgan Stanley lifted its holdings in shares of Desktop Metal by 302.7% in the 2nd quarter. Morgan Stanley now owns 4,089,552 shares of the pipeline company’s stock worth $47,030,000 after purchasing an additional 3,074,140 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Desktop Metal by 134.5% in the 4th quarter. ARK Investment Management LLC now owns 4,581,100 shares of the pipeline company’s stock worth $22,676,000 after purchasing an additional 2,627,394 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Desktop Metal in the 3rd quarter worth approximately $14,253,000. 39.23% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. Stifel Nicolaus dropped their price target on Desktop Metal from $11.00 to $6.00 in a research note on Wednesday, March 16th. Zacks Investment Research upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, StockNews.com upgraded Desktop Metal to a “sell” rating in a research note on Wednesday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.75.

NYSE DM traded up $0.20 during mid-day trading on Friday, reaching $2.10. 6,923,376 shares of the company’s stock traded hands, compared to its average volume of 8,019,826. Desktop Metal has a 1-year low of $1.26 and a 1-year high of $15.48. The company has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $4.49. The company has a market cap of $658.27 million, a price-to-earnings ratio of -2.33 and a beta of 0.64.

Desktop Metal (NYSE:DMGet Rating) last issued its quarterly earnings data on Tuesday, March 8th. The pipeline company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Desktop Metal had a negative net margin of 173.46% and a negative return on equity of 14.59%. The business had revenue of $56.68 million for the quarter, compared to analyst estimates of $52.50 million. Equities analysts expect that Desktop Metal will post -0.4 earnings per share for the current year.

About Desktop Metal (Get Rating)

Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.

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