Desktop Metal Inc. (NYSE:DM) has a beta value of 0.46 and has seen 2.63 million shares traded in the last trading session. The company, currently valued at $539.91M, closed the last trade at $1.87 per share which meant 0.00% during that session. The DM stock price is -182.35% off its 52-week high price of $5.28 and 39.57% above the 52-week low of $1.13. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.73 million shares traded. The 3-month trading volume is 3.60 million shares.
The consensus among analysts is that Desktop Metal Inc. (DM) is a Hold stock at the moment, with a recommendation rating of 2.60. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 5 out of 6 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.09.
Desktop Metal Inc. (NYSE:DM) trade information
The stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the DM stock price touched $1.87 or saw a rise of 4.1%. Year-to-date, Desktop Metal Inc. shares have moved 37.50%, while the 5-day performance has seen it change 2.75%. Over the past 30 days, the shares of Desktop Metal Inc. (NYSE:DM) have changed 52.03%. Short interest in the company has seen 65.85 million shares shorted with days to cover at 16.96.
Wall Street analysts have a consensus price target for the stock at $2.56, which means that the shares’ value could jump 26.95% from current levels. The projected low price target is $1.75 while the price target rests at a high of $5.00. In that case, then, we find that the current price level is -167.38% off the targeted high while a plunge would see the stock lose 6.42% from current levels.
Desktop Metal Inc. (DM) estimates and forecasts
Figures show that Desktop Metal Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -23.05% over the past 6 months, with this year growth rate of -57.14%, compared to -52.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 25.00% and 50.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 87.90%.
6 analysts offering their estimates for the company have set an average revenue estimate of $60.94 million for the current quarter. 4 have an estimated revenue figure of $45.89 million for the next quarter concluding in Mar 2023. Year-ago sales stood $56.68 million and $43.71 million respectively for this quarter and the next, and analysts expect sales will grow by 7.50% for the current quarter and 5.00% for the next.
Earnings growth for 2023 is a modest -327.80% while over the next 5 years, the company’s earnings are expected to increase by 46.00%.
Desktop Metal Inc. is expected to release its next earnings report between March 06 and March 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Desktop Metal Inc. (NYSE:DM)’s Major holders
Insiders own 10.67% of the company shares, while shares held by institutions stand at 49.81% with a share float percentage of 55.76%. Investors are also buoyed by the number of investors in a company, with Desktop Metal Inc. having a total of 290 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 21.67 million shares worth more than $40.53 million. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 6.82% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 21.35 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $39.92 million and represent 6.72% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Janus Henderson Triton Fund. As of Sep 29, 2022, the former fund manager holds about 2.10% shares in the company for having 6.68 million shares of worth $12.49 million while later fund manager owns 6.23 million shares of worth $11.65 million as of Sep 29, 2022, which makes it owner of about 1.96% of company’s outstanding stock.