The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Desktop Metal Inc shares valued at $30,360 were sold by Nogueira Thomas on Aug 12 ’24. At $4.16 per share, Nogueira Thomas sold 7,298 shares. The insider’s holdings dropped to 39,247 shares worth approximately $0.19 million following the completion of this transaction.
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Also, THOMAS NOGUEIRA purchased 7,298 shares, netting a total of over 30,367 in proceeds.
Before that, Cole Jason M had sold 24,064 shares from its account. In a trade valued at $101,791, the CFO & TREASURER traded Desktop Metal Inc shares for $4.23 each. Upon closing the transaction, the insider’s holdings decreased to 24,064 shares, worth approximately $0.34 million.
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 6.02%. Over the course of the year, Desktop Metal Inc shares have dropped approximately -34.35%. 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 $4.47, while a 200-day SMA reached $5.99. Nevertheless, trading volume fell to 0.66 million shares from 0.18 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 4.79, which, if violated, would cause prices to drop to 4.65. In the upper region, resistance lies at 5.01. The next price resistance is at 5.10. RSI (Relative Strength Index) is 68.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 4.90%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
