Desktop Metal (NYSE:DM) Shares Cross Below 200-Day Moving Average – Time to Sell?

Desktop Metal, Inc. (NYSE:DM) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.26 and traded as low as $2.18. Desktop Metal shares last traded at $2.20, with a volume of 545,380 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised Desktop Metal from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Desktop Metal Stock Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. The company has a fifty day moving average price of $3.41 and a 200 day moving average price of $4.24. The stock has a market cap of $73.18 million, a P/E ratio of -0.20 and a beta of 0.64.

Institutional Investors Weigh In On Desktop Metal

Several large investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in shares of Desktop Metal in the second quarter valued at approximately $68,000. Cubist Systematic Strategies LLC bought a new position in Desktop Metal in the 2nd quarter worth about $150,000. XTX Topco Ltd bought a new position in shares of Desktop Metal in the third quarter worth approximately $214,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Desktop Metal during the 2nd quarter valued at $208,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Desktop Metal during the second quarter worth about $229,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.

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.