Short Interest in Desktop Metal, Inc. (NYSE:DM) Increases By 8.8%

Desktop Metal, Inc. (NYSE:DM) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,730,000 shares, a growth of 8.8% from the January 15th total of 2,510,000 shares. Approximately 14.9% of the company’s shares are sold short. Based on an average daily trading volume, of 311,800 shares, the short-interest ratio is presently 8.8 days.

Desktop Metal Stock Performance

NYSE:DM opened at $2.53 on Tuesday. Desktop Metal has a fifty-two week low of $2.02 and a fifty-two week high of $11.80. The firm’s 50 day moving average is $2.67 and its two-hundred day moving average is $3.85. The company has a market cap of $84.35 million, a P/E ratio of -0.23 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.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Desktop Metal

Several large investors have recently made changes to their positions in the business. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Desktop Metal by 2.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 387,865 shares of the pipeline company’s stock worth $908,000 after acquiring an additional 8,665 shares in the last quarter. ABC Arbitrage SA acquired a new stake in Desktop Metal during the 4th quarter valued at $27,000. Squarepoint Ops LLC acquired a new stake in Desktop Metal during the 4th quarter valued at $41,000. Fifth Lane Capital LP acquired a new stake in Desktop Metal during the 4th quarter valued at $42,000. Finally, Renaissance Technologies LLC boosted its stake in Desktop Metal by 65.5% during the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

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.