Short Interest in Desktop Metal, Inc. (NYSE:DM) Rises By 8.2%

Desktop Metal, Inc. (NYSE:DM) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,380,000 shares, a growth of 8.2% from the December 31st total of 2,200,000 shares. Based on an average daily volume of 283,200 shares, the days-to-cover ratio is presently 8.4 days. Approximately 12.7% of the shares of the stock are sold short.

Desktop Metal Price Performance

Desktop Metal stock opened at $2.41 on Tuesday. The company’s 50 day moving average is $2.96 and its two-hundred day moving average is $4.02. The firm has a market cap of $80.18 million, a PE ratio of -0.21 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56. Desktop Metal has a 52-week low of $2.02 and a 52-week high of $11.80.

Analysts Set New Price Targets

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

Institutional Trading of Desktop Metal

Hedge funds have recently added to or reduced their stakes in the company. Olympiad Research LP raised its stake in Desktop Metal by 99.6% in the fourth quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock valued at $476,000 after buying an additional 101,419 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Desktop Metal during the fourth quarter worth approximately $27,000. XTX Topco Ltd purchased a new stake in Desktop Metal during the third quarter worth approximately $214,000. Murchinson Ltd. acquired a new position in Desktop Metal in the third quarter valued at approximately $972,000. Finally, ARK Investment Management LLC increased its stake in Desktop Metal by 49.1% in the third quarter. ARK Investment Management LLC now owns 762,165 shares of the pipeline company’s stock valued at $3,559,000 after purchasing an additional 251,156 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

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.