Traders Purchase Large Volume of Call Options on Desktop Metal (NYSE:DM)

Desktop Metal, Inc. (NYSE:DM) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 5,257 call options on the company. This represents an increase of approximately 1,415% compared to the typical daily volume of 347 call options.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Desktop Metal from a “hold” rating to a “sell” rating in a report on Friday, February 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DM. ABC Arbitrage SA purchased a new position in shares of Desktop Metal during the 4th quarter worth approximately $27,000. Squarepoint Ops LLC purchased a new stake in Desktop Metal in the fourth quarter worth $41,000. Fifth Lane Capital LP bought a new position in Desktop Metal in the fourth quarter worth $42,000. Cresset Asset Management LLC bought a new position in Desktop Metal in the fourth quarter worth $51,000. Finally, Virtu Financial LLC purchased a new position in Desktop Metal during the fourth quarter valued at $90,000. 56.31% of the stock is owned by hedge funds and other institutional investors.

Desktop Metal Price Performance

DM opened at $4.57 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The stock has a market capitalization of $152.20 million, a PE ratio of -0.41 and a beta of 0.70. The stock’s 50 day moving average price is $2.42 and its 200-day moving average price is $3.51. Desktop Metal has a 52-week low of $1.84 and a 52-week high of $11.80.

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.