In today’s recent session, 36.55 million shares of the Desktop Metal Inc (NYSE:DM) have been traded, and its beta is 0.80. Most recently the company’s share price was $4.32, and it changed around $2.05 or 90.31% from the last close, which brings the market valuation of the company to $144.04M. DM at last check was trading at a discount to its 52-week high of $11.80, offering almost -173.15% off that amount. The share price’s 52-week low was $1.84, which indicates that the recent value has risen by an impressive 57.41% since then. We note from Desktop Metal Inc’s average daily trading volume that its 10-day average is 0.37 million shares, with the 3-month average coming to 276.25K.
Desktop Metal Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended DM as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Desktop Metal Inc is expected to report earnings per share of -0.28 for the current quarter.
Desktop Metal Inc (NYSE:DM) trade information
Instantly DM has been showing a green trend so far today with a performance of 90.31% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.53 on recent trading dayincreased the stock’s daily price by 4.64%. The company’s shares are currently up 84.62% year-to-date, but still up 57.09% over the last five days. On the other hand, Desktop Metal Inc (NYSE:DM) is 96.36% up in the 30-day period. We can see from the shorts that 2.85 million shares have been sold at a short interest cover period of 12.23 day(s).
The consensus price target as assigned by Wall Street analysts is $5.25, which translates to bulls needing to increase their stock price by 17.71% from its current value. Analyst projections state that DM is forecast to be at a low of $5 and a high of $5.5.
Desktop Metal Inc (DM) estimates and forecasts
The year-over-year growth rate is expected to be -15.66%, down from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 44.1M in revenue for the current quarter. 1 analysts expect Desktop Metal Inc to make 38.8M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 52.35M and 40.6M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -15.75%. Forecasts for the next quarter put sales growth at -4.43%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -275.72%.
Desktop Metal Inc (NYSE:DM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 39.88% of Desktop Metal Inc shares, and 35.22% of them are in the hands of institutional investors. The stock currently has a share float of 58.58%. Desktop Metal Inc stock is held by 105.0 institutions, with IONIC CAPITAL MANAGEMENT LLC being the largest institutional investor. By 2024-06-30, it held 5.2869% of the shares, which is about 1.75 million shares worth $7.22 million.
NEA MANAGEMENT COMPANY, LLC, with 4.3521% or 1.44 million shares worth $5.95 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 31, 2024. The former held 680.45 shares worth $2.9 million, making up 2.04% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 357.14 shares worth around $1.52 million, which represents about 1.07% of the total shares outstanding.
