Desktop Metal (NYSE:DM) Stock Passes Below 200-Day Moving Average – Here’s Why

Desktop Metal, Inc. (NYSE:DM)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

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

Desktop Metal Price Performance

The business has a 50-day moving average price of $3.41 and a 200 day moving average price of $4.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34.

Hedge Funds Weigh In On Desktop Metal

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Desktop Metal during the second quarter worth $68,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Desktop Metal in the second quarter valued at about $150,000. Susquehanna Fundamental Investments LLC acquired a new stake in Desktop Metal during the second quarter worth about $208,000. XTX Topco Ltd acquired a new stake in Desktop Metal during the third quarter worth about $214,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Desktop Metal during the second quarter worth about $229,000. 56.31% of the stock is owned by institutional investors and hedge funds.

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.