Vanguard Group Inc. Reduces Stake in Desktop Metal, Inc. (NYSE:DM)

Vanguard Group Inc. lessened its stake in shares of Desktop Metal, Inc. (NYSE:DM - Free Report) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,932,564 shares of the pipeline company's stock after selling 1,274,169 shares during the period. Vanguard Group Inc. owned approximately 6.75% of Desktop Metal worth $32,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in Desktop Metal by 41.1% during the 3rd quarter. Lazard Asset Management LLC now owns 1,357,784 shares of the pipeline company's stock valued at $1,982,000 after buying an additional 395,373 shares during the period. Pathstone Family Office LLC bought a new position in Desktop Metal in the 3rd quarter valued at $63,000. Private Advisor Group LLC grew its position in Desktop Metal by 171.6% in the 3rd quarter. Private Advisor Group LLC now owns 63,286 shares of the pipeline company's stock valued at $92,000 after acquiring an additional 39,985 shares during the last quarter. Keating Investment Counselors Inc. grew its position in Desktop Metal by 28.4% in the 3rd quarter. Keating Investment Counselors Inc. now owns 113,000 shares of the pipeline company's stock valued at $165,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in Desktop Metal in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 56.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on DM shares. Cantor Fitzgerald started coverage on Desktop Metal in a research report on Wednesday, February 28th. They issued an "overweight" rating and a $1.25 price objective on the stock. StockNews.com started coverage on Desktop Metal in a research report on Saturday, March 2nd. They issued a "sell" rating on the stock.

Desktop Metal Stock Down 7.7 %

Shares of DM traded down $0.08 during midday trading on Friday, reaching $0.96. 5,400,260 shares of the stock were exchanged, compared to its average volume of 3,624,977. Desktop Metal, Inc. has a 52 week low of $0.46 and a 52 week high of $2.35. The company has a current ratio of 3.08, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $0.71 and its two-hundred day moving average is $0.81. The company has a market capitalization of $316.29 million, a P/E ratio of -0.97 and a beta of 0.68.

Desktop Metal (NYSE:DM - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter. Desktop Metal had a negative return on equity of 29.25% and a negative net margin of 170.41%. The firm had revenue of $52.35 million for the quarter. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, sell-side analysts anticipate that Desktop Metal, Inc. will post -0.15 earnings per share for the current year.

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.