Desktop Metal Inc. (DM) Is A Stock You Should Watch


As of Friday close, Desktop Metal Inc.’s (NYSE:DM) stock was down -$0.19, moving down -8.44 percent to $2.06. The average number of shares traded per day over the past five days has been 3,871,700 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.02 fall in that time frame. In the last twenty days, the average volume was 6,306,140, while in the previous 50 days, it was 4,601,328.

Since last month, DM stock rose 11.96%. Shares of the company fell to $1.44 on 02/28/23, the lowest level in the past month. A 52-week high of $5.28 was reached on 03/07/23 after having rallying from a 52-week low of $1.13. Since the beginning of this year, DM’s stock price has risen by 51.47% or $0.70, and marked a new high 12 times. However, the stock has declined by -60.98% since its 52-week high.

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DM stock investors should be aware that Desktop Metal Inc. (DM) stock had its last reported insider trading activity 12 days ago on Mar 06. DUSSAULT SCOTT J, the Director of the company, disposed of 26,969 shares for $2.40 on Mar 06. It resulted in a $64,726 divestment by the insider. Fulop Ric added 6,000 shares at an average price of $3.21 on Aug 22. The insider now owns 20,264,999 shares following the transaction. On Aug 16, CHIEF EXECUTIVE OFFICER Fulop Ric bought 5,000 shares at $3.20 apiece. The transaction was valued at $16,016.

Valuation Metrics

The stock’s beta is 0.46. Besides these, the trailing price-to-sales (P/S) ratio of 3.31, the price-to-book (PB) ratio of 1.24.

The latest dividend of $0.3690 per share was paid out, remained unchanged from last year’s $0.3690.

Financial Health

In the three months ended September 29, Desktop Metal Inc.’s quick ratio stood at 2.90, while its current ratio was 4.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.21, and the total debt-to-equity ratio was 0.21. On the profitability front, the trailing twelve-month gross margin is 7.20% percent. Based on annual data, DM earned $15.07 million in gross profit and brought in $209.02 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -114.00%. Return on equity (ROE) for the past 12 months was -87.50%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. DM’s revenue rose 6.41% to $47.09 million during the quarter, while net income inched up to $60.56 million. While analysts expected Desktop Metal Inc. to report -$0.08 quarterly earnings, the actual figure was -$0.1 per share, beating the consensus estimate by -25.00%. During the quarter, the company generated -$30.53 million in EBITDA. The liabilities of Desktop Metal Inc. were 226.84 million at the end of its most recent quarter ended September 29, and its total debt was $136.65 million. The value of shareholders’ equity is $318.81 million.

Technical Picture

This quick technical analysis looks at Desktop Metal Inc.’s (DM) price momentum. With a historical volatility rate of 98.70%, the RSI 9-day stood at 49.89% on 17 March.

With respect to its five-day moving average, the current Desktop Metal Inc. price is down by -0.96% percent or -$0.02. At present, DM shares trade +14.44% above its 20-day simple moving average and -17.60% percent below its 100-day simple moving average. However, the stock is currently trading approximately +47.14% above its SMA50 and +0.49% above its SMA200.

Stochastic coefficient K was 64.86% and Stochastic coefficient D was 65.07%, while ATR was 0.24. Given the Stochastic reading of 55.86% for the 14-day period, the RSI (14) reading has been calculated as 52.21%. As of today, the MACD Oscillator reading stands at -0.04, while the 14-day reading stands at 0.05.

Analyst Ratings

Morgan Stanley launched its rating on Desktop Metal Inc. (NYSE: DM) to an Equal-weight in a note to investors on January 06, 2023. Desktop Metal Inc. (DM) has been rated Hold by analysts. According to 0 brokerage firms, DM is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Desktop Metal Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $2.00, the current consensus forecast for the stock is $1.75 – $3.00. Based on these forecasts, analysts predict Desktop Metal Inc. (DM) will achieve an average price target of $2.17.


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