Desktop Metal (NYSE:DM) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Desktop Metal (NYSE:DM - Get Free Report) in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm set an "overweight" rating and a $1.25 price target on the pipeline company's stock. Cantor Fitzgerald's price objective indicates a potential upside of 115.59% from the stock's current price.

Separately, StockNews.com assumed coverage on shares of Desktop Metal in a research report on Wednesday, January 24th. They set a "sell" rating on the stock.

Desktop Metal Stock Performance

Shares of Desktop Metal stock opened at $0.58 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.09 and a quick ratio of 1.91. The stock has a market capitalization of $188.28 million, a price-to-earnings ratio of -0.40 and a beta of 0.64. The firm's fifty day simple moving average is $0.64 and its 200-day simple moving average is $0.98. Desktop Metal has a 12 month low of $0.46 and a 12 month high of $2.55.

Institutional Trading of Desktop Metal

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC boosted its holdings in Desktop Metal by 688.4% in the fourth quarter. Virtu Financial LLC now owns 202,354 shares of the pipeline company's stock worth $152,000 after purchasing an additional 176,686 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Desktop Metal by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 238,405 shares of the pipeline company's stock worth $180,000 after purchasing an additional 64,200 shares during the period. Barclays PLC boosted its holdings in Desktop Metal by 351.0% in the fourth quarter. Barclays PLC now owns 436,656 shares of the pipeline company's stock worth $329,000 after purchasing an additional 339,827 shares during the period. Royal Bank of Canada boosted its holdings in Desktop Metal by 137.2% in the fourth quarter. Royal Bank of Canada now owns 377,511 shares of the pipeline company's stock worth $283,000 after purchasing an additional 218,389 shares during the period. Finally, Pathstone Holdings LLC acquired a new position in Desktop Metal in the fourth quarter worth $32,000. Institutional investors and hedge funds own 53.68% of the company's stock.

Desktop Metal Company Profile

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 Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; Studio System, an office metal 3D printing system; and Desktop Metal Furnace, which is paired with the Studio System and binder jetting solutions to create turnkey metal additive manufacturing solutions.

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