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Headlines
- Desktop Metal's shares recently moved above the 50-day moving average of $4.99, reaching a high of $5.35 and closing at $5.17.
- The company’s financial metrics include a debt-to-equity ratio of 0.57, a quick ratio of 1.64, and a current ratio of 2.83.
- Recent earnings report showed a loss per share of ($0.50) and revenue of $40.60 million.
- Insider transactions include CFO Jason M. Cole selling 18,000 shares, valued at $111,600.
- Institutional investors have shown significant activity, with ARK Investment Management LLC increasing its holdings by 15.2% in the fourth quarter.
Desktop Metal, Inc. (NYSE:DM) saw its shares cross above the 50-day moving average of $4.99 during trading on Tuesday. The stock peaked at $5.35 before closing at $5.17. This movement reflects notable activity in the company's stock, which has been of interest to investors and analysts alike.
The company’s financial metrics provide insight into its current position. Desktop Metal holds a debt-to-equity ratio of 0.57, indicating a relatively moderate level of debt compared to equity. The quick ratio stands at 1.64, suggesting sufficient liquidity to cover short-term obligations, while the current ratio of 2.83 further reinforces its ability to meet both short-term and long-term liabilities. Despite these metrics, the 50-day moving average price remains at $4.99, with the 200-day moving average at $6.40, indicating some volatility in stock performance over time.
In its latest earnings report issued on May 9th, Desktop Metal reported a loss per share of ($0.50) for the quarter. This marks an improvement from the previous year’s loss of ($1.10) per share. The company's revenue for the quarter was $40.60 million, reflecting its ongoing operations despite financial challenges. The firm’s negative net margin of 170.77% and a negative return on equity of 29.78% highlight ongoing financial difficulties, though there are expectations for improvements in the future. Analysts are forecasting an earnings per share of -1.46 for the current year, indicating continued challenges in reaching profitability. This performance is noteworthy in the context of broader market trends affecting metal and mining stocks, where similar financial dynamics are observed across sectors.
In recent insider activity, CFO Jason M. Cole sold 18,000 shares of Desktop Metal on May 15th. The transaction was completed at an average price of $6.20 per share, totaling $111,600. Following this sale, Cole retains 87,168 shares in the company, valued at approximately $540,441.60. This sale was disclosed in a filing with the SEC, reflecting ongoing insider transactions and confidence in the company’s future despite recent fluctuations.
Institutional investors have been active in Desktop Metal’s stock. ARK Investment Management LLC increased its holdings by 15.2% in the fourth quarter, now owning 3,958,202 shares valued at $2,973,000 after acquiring an additional 522,677 shares. Cetera Advisors LLC and Price T. Rowe Associates Inc. MD also made significant moves, with Price T. Rowe Associates increasing its holdings by 66.6% to 397,277 shares. Other institutional investors, including Levin Capital Strategies L.P. and Empowered Funds LLC, have also established new positions in the company. Currently, 56.31% of Desktop Metal's stock is owned by hedge funds and other institutional investors, highlighting their continued interest and involvement in the company’s growth and performance.
