In the last trading session, 1.2 million shares of the Desktop Metal Inc (NYSE:DM) were traded, and its beta was 0.68. Most recently the company’s share price was $0.85, and it changed around $0.0 or -0.12% from the last close, which brings the market valuation of the company to $276.22M. DM currently trades at a discount to its 52-week high of $2.37, offering almost -178.82% off that amount. The share price’s 52-week low was $0.46, which indicates that the current value has risen by an impressive 45.88% since then. We note from Desktop Metal Inc’s average daily trading volume that its 10-day average is 2.56 million shares, with the 3-month average coming to 3.67 million.
Desktop Metal Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 1 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 5 recommended DM as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Desktop Metal Inc is expected to report earnings per share of -$0.06 for the current quarter.
Desktop Metal Inc (NYSE:DM) trade information
Instantly DM has showed a red trend with a performance of -0.12% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 13.26% year-to-date, but still up 8.00% over the last five days. On the other hand, Desktop Metal Inc (NYSE:DM) is 39.47% up in the 30-day period. We can see from the shorts that 68.01 million shares have been sold at a short interest cover period of 15.49 day(s).
The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 83.0% from its current value. Analyst projections state that DM is forecast to be at a low of $5 and a high of $5.
Desktop Metal Inc (DM) estimates and forecasts
Desktop Metal Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -41.74 percent over the past six months and at a 40.00% annual growth rate that is well below the industry average of 57.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 25.00% in revenue this quarter, and will report an increase of 20.00% in the next quarter. The year-over-year growth rate is expected to be -0.70%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $40.8 million in revenue for the current quarter. 3 analysts expect Desktop Metal Inc to make $46.73 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $41.32 million and $53.29 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -1.20%. Forecasts for the next quarter put sales growth at -12.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -278.00%. Desktop Metal Inc earnings are expected to increase by 42.47% in 2024, but the outlook is positive 46.00% per year for the next five years.
DM Dividends
Desktop Metal Inc’s next quarterly earnings report is expected to be released on March 15.
Desktop Metal Inc (NYSE:DM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 23.27% of Desktop Metal Inc shares, and 48.12% of them are in the hands of institutional investors. The stock currently has a share float of 62.72%. Desktop Metal Inc stock is held by 231 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.18% of the shares, which is about 23.21 million shares worth $41.08 million.
Blackrock Inc., with 6.82% or 22.03 million shares worth $38.99 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 7.35 million shares worth $13.01 million, making up 2.28% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 6.64 million shares worth around $11.75 million, which represents about 2.06% of the total shares outstanding.
