Moloney Securities Asset Management LLC Raises Stock Holdings in Desktop Metal, Inc. (NYSE:DM)

Posted by Defense World Staff on Apr 14th, 2023

Moloney Securities Asset Management LLC grew its stake in Desktop Metal, Inc. (NYSE:DM – Get Rating) by 80.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,800 shares of the pipeline company’s stock after buying an additional 71,550 shares during the quarter. Moloney Securities Asset Management LLC owned approximately 0.05% of Desktop Metal worth $219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DNB Asset Management AS increased its position in Desktop Metal by 114.1% in the fourth quarter. DNB Asset Management AS now owns 318,488 shares of the pipeline company’s stock worth $433,000 after buying an additional 169,729 shares in the last quarter. Moody National Bank Trust Division increased its position in Desktop Metal by 55.4% in the fourth quarter. Moody National Bank Trust Division now owns 22,391 shares of the pipeline company’s stock worth $30,000 after buying an additional 7,983 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Desktop Metal by 13.2% in the third quarter. Bank of New York Mellon Corp now owns 960,875 shares of the pipeline company’s stock worth $2,489,000 after acquiring an additional 111,687 shares during the period. Alphabet Inc. bought a new position in shares of Desktop Metal in the third quarter worth about $28,616,000. Finally, Balyasny Asset Management LLC boosted its stake in shares of Desktop Metal by 240.5% in the third quarter. Balyasny Asset Management LLC now owns 111,250 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 78,576 shares during the period. Hedge funds and other institutional investors own 42.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DM shares. JPMorgan Chase & Co. started coverage on Desktop Metal in a research note on Friday, December 16th. They issued a “neutral” rating for the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $2.20 price objective on shares of Desktop Metal in a research note on Monday, March 6th. StockNews.com raised Desktop Metal to a “sell” rating in a research note on Friday, February 10th. Finally, Morgan Stanley upped their price objective on Desktop Metal from $1.75 to $1.90 and gave the stock an “overweight” rating in a research note on Friday, March 3rd.

Insider Activity at Desktop Metal

In related news, Director Scott J. Dussault sold 26,969 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $2.40, for a total transaction of $64,725.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.78% of the stock is owned by corporate insiders.

Desktop Metal Price Performance

Shares of Desktop Metal stock opened at $2.27 on Friday. The stock has a 50 day moving average of $2.02 and a 200 day moving average of $2.01. Desktop Metal, Inc. has a 12 month low of $1.13 and a 12 month high of $4.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.03 and a quick ratio of 2.93.

Desktop Metal Company Profile

(Get Rating)

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.