Oversea Chinese Banking CORP Ltd acquired a new stake in shares of Desktop Metal, Inc. (NYSE:DM – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 58,235 shares of the pipeline company’s stock, valued at approximately $79,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Desktop Metal by 3.2% during the third quarter. Vanguard Group Inc. now owns 21,673,313 shares of the pipeline company’s stock valued at $56,134,000 after purchasing an additional 675,320 shares in the last quarter. Alphabet Inc. bought a new stake in Desktop Metal during the third quarter valued at about $28,616,000. State Street Corp boosted its position in Desktop Metal by 7.3% during the third quarter. State Street Corp now owns 7,237,521 shares of the pipeline company’s stock valued at $18,745,000 after purchasing an additional 494,746 shares in the last quarter. Geode Capital Management LLC boosted its position in Desktop Metal by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 4,563,786 shares of the pipeline company’s stock valued at $6,206,000 after purchasing an additional 166,846 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Desktop Metal by 26.2% in the second quarter. Northern Trust Corp now owns 2,176,716 shares of the pipeline company’s stock worth $4,789,000 after acquiring an additional 451,540 shares in the last quarter. Institutional investors own 42.58% of the company’s stock.
Desktop Metal Trading Up 1.4 %
Shares of Desktop Metal stock opened at $2.21 on Friday. The stock has a market cap of $710.43 million, a PE ratio of -0.97 and a beta of 0.64. The firm has a fifty day moving average price of $2.00 and a 200 day moving average price of $1.87. Desktop Metal, Inc. has a 1 year low of $1.13 and a 1 year high of $3.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.79 and a quick ratio of 2.61.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Credit Suisse Group reissued a “neutral” rating and issued a $2.20 price target on shares of Desktop Metal in a report on Monday, March 6th. StockNews.com assumed coverage on Desktop Metal in a report on Tuesday, June 6th. They issued a “sell” rating for the company. Finally, Morgan Stanley raised their price target on Desktop Metal from $1.75 to $1.90 and gave the stock an “overweight” rating in a report on Friday, March 3rd.
About Desktop Metal
Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.
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