Desktop Metal (NYSE:DM) Shares Cross Below 50 Day Moving Average – Should You Sell?

Desktop Metal, Inc. (NYSE:DM) shares passed 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 traded.

Analyst Ratings Changes

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 Stock Up 15.0 %

The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. The firm has a fifty day moving average of $3.94 and a 200-day moving average of $4.38. The firm has a market cap of $89.69 million, a P/E ratio of -0.24 and a beta of 0.55.

Institutional Trading of Desktop Metal

Hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in Desktop Metal by 49.1% during the 3rd quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after acquiring an additional 251,156 shares in the last quarter. Murchinson Ltd. bought a new position in Desktop Metal during the 3rd quarter valued at approximately $972,000. Olympiad Research LP bought a new position in Desktop Metal in the third quarter worth about $476,000. Clearline Capital LP bought a new position in shares of Desktop Metal in the 2nd quarter worth about $381,000. Finally, AQR Capital Management LLC raised its stake in Desktop Metal by 217.8% during the second quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock valued at $244,000 after buying an additional 40,478 shares during the last quarter. 56.31% of the stock is owned by institutional investors and hedge funds.

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.