Desktop Metal, Inc. (NYSE:DM) Short Interest Update

Desktop Metal, Inc. (NYSE:DM) was the recipient of a significant 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 trading volume of 283,200 shares, the days-to-cover ratio is presently 8.4 days. Approximately 12.7% of the shares of the company are short sold.

Desktop Metal Stock Performance

NYSE DM opened at $2.40 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.34 and a quick ratio of 1.02. Desktop Metal has a 1-year low of $2.02 and a 1-year high of $11.80. The company has a market cap of $80.02 million, a P/E ratio of -0.21 and a beta of 0.64. The stock has a 50-day moving average of $2.96 and a two-hundred day moving average of $4.02.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Desktop Metal

Large investors have recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings 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 in the last quarter. Murchinson Ltd. acquired a new position in shares of Desktop Metal in the 3rd quarter valued at $972,000. Olympiad Research LP grew its position in shares of Desktop Metal by 99.6% in the 4th 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 during the last quarter. AQR Capital Management LLC raised its stake in Desktop Metal by 217.8% during the 2nd quarter. AQR Capital Management LLC now owns 59,061 shares of the pipeline company’s stock worth $244,000 after acquiring an additional 40,478 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Desktop Metal in the second quarter valued at $208,000. 56.31% of the stock is owned by hedge funds and other institutional investors.

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.