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Desktop Metal Inc. (NYSE: DM) Is Worth A Shot If You’re A Risk-Capital Investor

In the last trading session, 4.83 million Desktop Metal Inc. (NYSE:DM) shares changed hands as the company’s beta touched 0.63. With the company’s per share price at $1.49 changed hands at -$0.02 or -1.32% during last session, the market valuation stood at $490.91M. DM’s last price was a discount, traded about -121.48% off its 52-week high of $3.30. The share price had its 52-week low at $1.13, which suggests the last value was 24.16% up since then. When we look at Desktop Metal Inc.’s average trading volume, we note the 10-day average is 2.64 million shares, with the 3-month average coming to 2.59 million.

Analysts gave the Desktop Metal Inc. (DM) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended DM as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Desktop Metal Inc.’s EPS for the current quarter is expected to be -$0.04.

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Desktop Metal Inc. (NYSE:DM) trade information

Instantly DM was in red as seen at the end of in last trading. With action -6.29%, the performance over the past five days has been red. The drop to weekly highs of 1.6300 on Monday, 09/18/23 subtracted -1.32% to the stock’s daily price. The company’s shares are showing year-to-date upside of 9.56%, with the 5-day performance at -6.29% in the red. However, in the 30-day time frame, Desktop Metal Inc. (NYSE:DM) is -5.70% down. Looking at the short shares, we see there were 68.08 million shares sold at short interest cover period of 27.63 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.83, meaning bulls need an upside of 18.58% from its current market value. According to analyst projections, DM’s forecast low is $1.60 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -34.23% plunge from its current level, while the stock would need to soar -7.38% for it to hit the projected low.

Desktop Metal Inc. (DM) estimates and forecasts

Data shows that the Desktop Metal Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.67% over the past 6 months, a 55.81% in annual growth rate that is considerably higher than the industry average of 46.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Desktop Metal Inc. will rise 60.00%, while the growth in revenue is estimated to hit 71.40% for the next quarter. Year-over-year growth is forecast to reach 3.90% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $53.08 million. 3 analysts are of the opinion that Desktop Metal Inc.’s revenue for the quarter ending Dec 2023 will be $65.59 million. The company’s revenue for the corresponding quarters a year ago was $60.3 million and $60.56 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -12.00%. The estimates for the next quarter sales put growth at 8.30%.

The 2023 estimates are for Desktop Metal Inc. earnings to decrease by -155.20%, but the outlook for the next 5-year period is at 46.00% per year.

DM Dividends

Desktop Metal Inc. is expected to release its next quarterly earnings report between November 07 and November 13.

Desktop Metal Inc. (NYSE:DM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 16.21% of Desktop Metal Inc. shares while 52.29% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.41%. There are 52.29% institutions holding the Desktop Metal Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.18% of the shares, roughly 23.21 million DM shares worth $41.08 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.82% or 22.03 million shares worth $38.99 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 7.35 million shares estimated at $13.01 million under it, the former controlled 2.28% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.06% of the shares, roughly 6.64 million shares worth around $11.75 million.

On Key

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