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

Desktop Metal, Inc. (NYSE:DM) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,440,000 shares, a decrease of 12.2% from the November 15th total of 2,780,000 shares. Currently, 13.0% of the shares of the company are short sold. Based on an average daily volume of 246,400 shares, the days-to-cover ratio is currently 9.9 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Desktop Metal

A number of large investors have recently modified their holdings of DM. Headlands Technologies LLC purchased a new position in shares of Desktop Metal during the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd purchased a new position in Desktop Metal in the 2nd quarter valued at approximately $68,000. Cubist Systematic Strategies LLC purchased a new position in Desktop Metal in the 2nd quarter valued at approximately $150,000. Susquehanna Fundamental Investments LLC purchased a new position in Desktop Metal in the 2nd quarter valued at approximately $208,000. Finally, XTX Topco Ltd purchased a new position in Desktop Metal in the 3rd quarter valued at approximately $214,000. 56.31% of the stock is owned by hedge funds and other institutional investors.

Desktop Metal Stock Performance

Desktop Metal stock traded down $0.19 during mid-day trading on Tuesday, reaching $3.43. 463,061 shares of the company were exchanged, compared to its average volume of 399,022. Desktop Metal has a twelve month low of $3.23 and a twelve month high of $11.80. The firm’s 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $4.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34. The firm has a market cap of $114.36 million, a PE ratio of -0.31 and a beta of 0.55.

About Desktop Metal

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.