Desktop Metal Inc. (DM): Here Are Some Research Recommendations

Desktop Metal Inc. (NYSE:DM) trading with a subtraction of -$0.07 to $7.07 on Thursday, a downside of -1.05 percent. An average of 2,570,145 shares of common stock have been traded in the last five days. There was a fall of -$0.05 in the past week, and it reached a new high 18 times over the past 12 months. The last 20 days have seen an average of 4,354,036 shares traded, while the 50-day average volume stands at 5,438,280.

DM stock has decreased by -8.81% in the last month. The company shares reached their 1-month lowest point of $6.70 on 10/06/21. With the stock rallying to its 52-week high on 02/08/21, shares of the company touched a low of $6.70 and a high of $34.94 in 52 weeks. It has reached a new high 10 times so far this year and lost -58.49% or -$10.06 in price. In spite of this, the price is down -79.78% from the 52-week high.


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Insider Transactions

121 days have passed since Desktop Metal Inc. (DM) last reported insider trading activity. HSIEH Wen Hsuan, who is Director, most recently acquired $100,000 shares at $12.12 per share on Jun 15. In this transaction, the insider spent $1,211,570. Director, HSIEH Wen Hsuan, disposed of 125,000 shares at a price of $12.60 on Jun 14. The insider now owns more than $1,575,238 worth of shares. Prior to that, Director Hindery Leo J. Jr. went on to Sale 250,000 shares at $19.35 each on Mar 17. An amount of $4,837,900 was transacted.

Valuation Metrics

Desktop Metal Inc. (DM) has a trailing price-to-earnings (P/E) ratio of 23.30 for the broader industry and 37.83 for the sector. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 40.50, the price-to-book (PB) ratio at 1.90.

The company’s most recent quarterly dividend payment was $0.3690 a share, without any change from last year.

The quick ratio of Desktop Metal Inc. for the three months ended June 29 was 12.90, and the current ratio was 13.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at -$15.05 million compared to revenue of $16.47 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Desktop Metal Inc.’s return on assets was -18.50%. For the broader industry, ROE averaged 3.62 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Desktop Metal Inc. had $326.32 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$43.18 million in the quarter, while revenues of -$59.11 million were grew 99.58%. The analyst consensus anticipated Desktop Metal Inc.’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be -$0.08, a 11.10% surprise. For the quarter, EBITDA amounted to -$41.18 million. Shareholders own equity worth $260.68 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Desktop Metal Inc. (DM) price momentum. RSI 9-day as of the close on 13 October was 45.70%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.81%.

As of today, DM’s price is $7.02 -0.70% or -$0.05 from its 5-day moving average. DM is currently trading -7.51% lower than its 20-day SMA and -46.91% lower than its 100-day SMA. However, the stock’s current price level is -21.10% below the SMA50 and -58.25% below the SMA200.

The stochastic %K and %D were 27.69% and 21.88%, respectively, and the average true range (ATR) was 0.30. With the 14-day stochastic at 33.85% and the average true range at 0.33, the RSI (14) stands at 42.43%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.

Analyst Ratings

Oppenheimer launched coverage on Desktop Metal Inc. (NYSE: DM) in its analyst report released on October 08, 2021. The firm assigned the stock a a Perform rating.The consensus rating for Desktop Metal Inc. (DM) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell DM, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is DM’s price target for the next 12 months?

Analysts predict a range of price targets between $6.17 and $20.00, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for Desktop Metal Inc. (DM) stock is $12.83.

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