Desktop Metal Inc. (NYSE:DM) saw a downside of -4.40% to close Monday at $1.52 after subtracting -$0.07 on the day. The 5-day average trading volume is 2,359,080 shares of the company’s common stock. It has gained $1.6150 in the past week and touched a new high 2 times within the past 5 days. An average of 1,909,715 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,631,354.
DM’s 1-month performance is -16.48% or -$0.3000 on its low of $1.4700 reached on 08/21/23. The company’s shares have touched a 52-week low of $1.13 and high of $3.65, with the stock’s rally to the 52-week high happening on 03/07/23. YTD, DM has achieved 11.76% or $0.1600 and has reached a new high 12 times. However, the current price is down -58.36% from the 52-week high price.
Insider Transactions
DM stock investors last saw insider trading activity on Mar 06.DUSSAULT SCOTT J (Director) most recently sold 26,969 shares at $2.40 per share on Mar 06. This transaction cost the insider $64,726.
Valuation Metrics
DM stock has a beta of 0.64. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.41 while the price-to-book (PB) in the most recent quarter is 1.10.
Desktop Metal Inc.’s quick ratio for the period ended June 29 was 2.30, with the current ratio over the same period at 3.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.25, while the total debt to equity was 0.26. In terms of profitability, the gross margin trailing 12 months is 6.30%. The firm’s gross profit as reported stood at $15.07 million against revenue of $209.02 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -497.77% to -$49.73 million, while revenue of -$52.64 million was -5.85% off the previous quarter. Analysts expected DM to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.05, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$34.91 million. DM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 232.64 million, with total debt at $141.9 million. Shareholders hold equity totaling $323.07 million.
Let’s look briefly at Desktop Metal Inc. (DM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 27.74% to suggest the stock is trending oversold, with historical volatility in this time period at 35.80%.
The stock’s 5-day moving average is $1.5520, reflecting a -5.00% or -$0.0800 change from its current price. DM is currently trading -17.84% above its 20-day SMA, -27.27% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -30.28% and SMA200 by-40.39%.
Stochastic %K and %D was 21.98% and 18.47% and the average true range (ATR) pointed at 0.0751. The RSI (14) points at 31.41%, while the 14-day stochastic is at 13.16% with the period’s ATR at 0.0780. The stock’s 9-day MACD Oscillator is pointing at -0.0233 and -0.0838 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Desktop Metal Inc. (NYSE: DM), Morgan Stanley launched coverage with an Equal-weight rating. Analysts offering their rating for DM stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate DM as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is DM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.60 and a high of $2.00, with their median price target at $1.99. Looking at these predictions, the average price target given by analysts is for Desktop Metal Inc. (DM) stock is $1.90.
