Desktop Metal (DM) Set to Announce Earnings on Wednesday

Desktop Metal (NYSE:DM) is set to release its earnings data before the market opens on Wednesday, July 31st. Desktop Metal has set its FY 2024 guidance at EPS.

Desktop Metal (NYSE:DM) last announced its quarterly earnings data on Thursday, May 9th. The pipeline company reported ($0.50) EPS for the quarter. The firm had revenue of $40.60 million during the quarter. Desktop Metal had a negative return on equity of 29.78% and a negative net margin of 170.77%. During the same period in the prior year, the company earned ($1.10) EPS.

Desktop Metal Price Performance

Shares of Desktop Metal stock traded up $0.10 during midday trading on Friday, hitting $4.87. 72,521 shares of the company were exchanged, compared to its average volume of 496,511. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.83 and a quick ratio of 1.64. The firm has a market cap of $160.90 million, a P/E ratio of -0.49 and a beta of 0.61. Desktop Metal has a 52 week low of $3.62 and a 52 week high of $19.90. The firm has a 50 day simple moving average of $4.94 and a 200-day simple moving average of $6.37.

Insider Buying and Selling at Desktop Metal

In other Desktop Metal news, CFO Jason M. Cole sold 18,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $6.20, for a total value of $111,600.00. Following the completion of the transaction, the chief financial officer now directly owns 87,168 shares of the company’s stock, valued at $540,441.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DM shares. Craig Hallum reissued a “hold” rating on shares of Desktop Metal in a research note on Monday, July 1st. StockNews.com began coverage on Desktop Metal in a research note on Tuesday, June 18th. They set a “sell” rating for the company. 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 note on Monday, July 8th.

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.