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Desktop Metal Inc [NYSE: DM] Sees Increase in Stock Value

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Desktop Metal Inc shares valued at $113,109 were sold by Myerberg Jonah on May 16 ’24. At $0.60 per share, Myerberg Jonah sold 190,004 shares. The insider’s holdings dropped to 2,303,468 shares worth approximately $11.7 million following the completion of this transaction.

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Also, Cole Jason M sold 180,000 shares, netting a total of over 111,096 in proceeds. Following the sale of shares at $0.62 each, the insider now holds 871,680 shares.

As published in their initiating research note from Morgan Stanley on January 06, 2023, Desktop Metal Inc [DM] has been an Equal-weight and the price target has been revised to $1.75. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid December. As of August 17, 2022, Credit Suisse has initiated its “Neutral” rating for DM. Earlier on January 10, 2022, Lake Street upgraded its rating. Their new recommendation was “a Buy” for DM stock which previously was a “a Hold”.

Analyzing DM Stock Performance

During the last five days, there has been a surge of approximately 24.51%. Over the course of the year, Desktop Metal Inc shares have dropped approximately -32.36%. Shares of the company reached a 52-week high of $11.80 on 04/09/24 and a 52-week low of $3.62 on 06/18/24. A 50-day SMA is recorded $5.93, while a 200-day SMA reached $7.77. Nevertheless, trading volume fell to 4.91 million shares from 1.45 million shares the previous day.

Support And Resistance Levels for Desktop Metal Inc (DM)

According to the 24-hour chart, there is a support level at 4.68, which, if violated, would cause prices to drop to 4.11. In the upper region, resistance lies at 5.58. The next price resistance is at 5.91. RSI (Relative Strength Index) is 52.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.31, which suggests the price will decrease in the coming days. Percent R is at 31.93%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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