Desktop Metal Inc. (NYSE:DM) does about 3.60M shares in volume on a normal day but saw 2626866 shares change hands in Monday trading. The company now has a market cap of 539.91M USD. Its current market price is $1.87, remained unchanged the previous close of $1.87. The 52 week high reached by this stock is $5.28 whilst the lowest price level in 52 weeks is $1.13. The script in recent trading has seen the stock touch a high of $1.91 and a low of $1.81.
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Desktop Metal Inc. (DM) has a 20-day trading average at $1.5145 and the current price is -64.58% off the 52-week high compared with 65.49% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.7256 and its 200-day simple moving average is $2.4988. If we look at the stock’s price movements over the week, volatility stands at 8.86%, which decreases to 8.71% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 62.09 to suggest the stock is neutral.
6 analysts observing the Desktop Metal Inc. (DM) stock have set the 12-month price targets for the company’s shares at between $1.75 and $5.00. The consensus objective for the share price is $2.97, suggesting that the stock has a potential upside of 37.04% over the period. The median price target is 6.5% away from the current levels at $2.00.
FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 5 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 06, 2023 when Morgan Stanley initiated the stock to “Equal-Weight” and issued a price target of $1.75. Credit Suisse initiated its price target at $2.80.
The current price level is 25.84%, 7.72%, and -25.62% away from its SMA20, SMA50, and SMA200 respectively, with the DM price moving below the 50-day SMA on January 23. Desktop Metal Inc. (DM) stock is up 2.75% over the week and 52.03% over the past month. Its price is 37.50% year-to-date and -51.43% over the past year.
DM’s earnings per share are forecast to shrink by -32.10% this year and 48.60% over next year. Expected sales for next quarter are $90.32 million, which analysts say will come at $251.88 million for the current fiscal year and next year at $331.56 million. In addition, estimates put the company’s current quarterly revenue at an average of $60.27 million.
To reach the target analysts have set, the stock logically needs to grow 37.04 percent from here.
Outstanding shares total 316.01M with insiders holding 14.24% of the shares and institutional holders owning 43.23% of the company’s common stock. The company has a return on investment of -13.70% and return on equity of -48.60%. The beta has a value of 0.46. Price to book ratio is 0.73 and price to sales ratio is 2.63.
Vanguard Small Cap Index Fund raise their holdings by 1.19% in the company over the course of the most recent quarter. It now holds a 1.94% position in Desktop Metal Inc. thanks to 6.17 million shares amounting to $8.39 million.
