Desktop Metal (NYSE:DM) Now Covered by Analysts at StockNews.com

Jan 02, 2024

StockNews.com assumed coverage on shares of Desktop Metal (NYSE:DM - Get Rating) in a research report issued on Tuesday. The brokerage set a "sell" rating on the pipeline company's stock.

DM has been the topic of several other reports. Credit Suisse Group reissued a "neutral" rating and set a $2.20 price target on shares of Desktop Metal in a research report on Monday, March 6th. Morgan Stanley upped their target price on shares of Desktop Metal from $1.75 to $1.90 and gave the company an "overweight" rating in a report on Friday, March 3rd.

NYSE:DM opened at $2.08 on Tuesday. The company has a 50-day moving average of $2.00 and a 200-day moving average of $1.86. The company has a market capitalization of $667.03 million, a price-to-earnings ratio of -0.91 and a beta of 0.64. Desktop Metal has a 52 week low of $1.13 and a 52 week high of $3.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 3.79.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC purchased a new position in shares of Desktop Metal in the fourth quarter valued at $26,000. Pacer Advisors Inc. boosted its stake in Desktop Metal by 53.5% during the fourth quarter. Pacer Advisors Inc. now owns 19,995 shares of the pipeline company's stock worth $27,000 after buying an additional 6,970 shares during the period. Simplicity Solutions LLC purchased a new position in Desktop Metal during the first quarter worth $28,000. Arete Wealth Advisors LLC purchased a new position in Desktop Metal during the first quarter worth $29,000. Finally, Moody National Bank Trust Division boosted its stake in Desktop Metal by 55.4% during the fourth quarter. Moody National Bank Trust Division now owns 22,391 shares of the pipeline company's stock worth $30,000 after buying an additional 7,983 shares during the period. Hedge funds and other institutional investors own 42.58% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Desktop Metal, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Desktop Metal wasn't on the list.

While Desktop Metal currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Wondering when you'll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.