A Guide To The Risks Of Investing In Desktop Metal Inc. (DM)


Desktop Metal Inc.’s recent filing unveils that its CHIEF EXECUTIVE OFFICER Fulop Ric acquired Company’s shares for reported $19235.0 on Aug 22. In the deal valued at $3.21 per share,6,000 shares were bought. As a result of this transaction, Fulop Ric now holds 20,264,999 shares worth roughly $ 37.9 million.

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Then, Fulop Ric bought 5,000 shares, generating $16,016 in total proceeds. Upon buying the shares at $3.20, the CHIEF EXECUTIVE OFFICER now owns 20,258,999 shares.

Before that, Fulop Ric bought 30,000 shares. Desktop Metal Inc. shares valued at $92,844 were divested by the CHIEF EXECUTIVE OFFICER at a price of $3.09 per share. As a result of the transaction, Fulop Ric now holds 20,253,999 shares, worth roughly $37.87 million.

Morgan Stanley initiated its Desktop Metal Inc. [DM] rating to an Equal-weight in a research note published on Monday, January 06, 2023; the price target was $1.75. PT values the company’s stock at a premium of -6.86 to its Monday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in mid December with a ‘”a Neutral”‘ rating. Credit Suisse began covering DM with “Neutral” recommendation on August 17, 2022. Lake Street revised its rating on January 10, 2022. It rated DM as “a Buy” which previously was an “a Hold”.

Price Performance Review of DM

On Monday, Desktop Metal Inc. [NYSE:DM] saw its stock remained unchanged to $1.87. On the same session, the stock had its day’s lowest price of $1.81, but rose to a high of $1.91. Over the last five days, the stock has gained 2.75%. Desktop Metal Inc. shares have risen nearly 37.50% since the year began. Nevertheless, the stocks have fallen -51.43% over the past one year. While a 52-week high of $5.28 was reached on 01/17/23, a 52-week low of $1.13 was recorded on 01/03/23. SMA at 50 days reached $1.7256, while 200 days put it at $2.4988. A total of 2.63 million shares were traded, compared to the trading of 4.63 million shares in the previous session.

Levels Of Support And Resistance For DM Stock

The 24-hour chart illustrates a support level at 1.8167, which if violated will result in even more drops to 1.7633. On the upside, there is a resistance level at 1.9167. A further resistance level may holdings at 1.9633. The Relative Strength Index (RSI) on the 14-day chart is 62.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1848, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 12.50%. Stochastics %K at 80.69% indicates the stock is a selling.

How much short interest is there in Desktop Metal Inc.?

A steep rise in short interest was recorded in Desktop Metal Inc. stocks on Oct 13, 2022, growing by 2.96 million shares to a total of 62.11 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 59.15 million shares. There was a rise of 4.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 23.48% of the overall stock float, the days-to-cover ratio (short ratio) rose to 18.06.

Desktop Metal Inc. [DM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 21,303,474 shares, or roughly 6.71% of the outstanding DM shares. In other words, the investor’s shares have risen by 654,480 from its previous 13-F filing of 20648994.0. Additionally, BlackRock Fund Advisors decreased -1.50% of its stake after which the total value it holdings stand at $22,508,086. Over the last quarter, SSgA Funds Management, Inc. purchased 494,746 shares of Desktop Metal Inc., while Janus Henderson Investors US LLC bought 6,726,996 shares. At present, Geode Capital Management LLC is holding 4,396,940 shares valued at $5.98 million. Group One Trading LP owned 3,073,632 shares of the company at the time of its most recent 13F filing, worth $4.18 million.

According to FactSet, Desktop Metal Inc.’s share price will average $2.56 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.95 percent from its previous closing price of $1.87. Analysts expect Desktop Metal Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $1.75. However, 6 analysts have rated DM stock as a Hold in their predictions for 2023.


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