Arete Wealth Advisors LLC Buys New Position in Desktop Metal, Inc. (NYSE:DM)

Posted by on Jul 25th, 2023

Arete Wealth Advisors LLC bought a new stake in shares of Desktop Metal, Inc. (NYSE:DM – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,628 shares of the pipeline company’s stock, valued at approximately $29,044,000,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Desktop Metal by 29.8% in the second quarter. Prudential Financial Inc. now owns 16,244 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 3,730 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Desktop Metal by 25.5% in the second quarter. Envestnet Asset Management Inc. now owns 23,749 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 4,832 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Desktop Metal by 25.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 24,500 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 5,000 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Desktop Metal by 18.4% during the fourth quarter. ProShare Advisors LLC now owns 34,496 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 5,349 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Desktop Metal by 7.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,247 shares of the pipeline company’s stock valued at $108,000 after acquiring an additional 5,429 shares during the last quarter. Institutional investors own 51.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Desktop Metal in a research report on Monday. They set a “sell” rating for the company.

Desktop Metal Stock Up 1.6 %

Shares of NYSE DM opened at $1.85 on Tuesday. The stock has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $1.94. 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.

Desktop Metal (NYSE:DM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 10th. The pipeline company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Desktop Metal had a negative net margin of 349.92% and a negative return on equity of 24.26%. The firm had revenue of $41.32 million for the quarter, compared to the consensus estimate of $47.95 million. Sell-side analysts expect that Desktop Metal, Inc. will post -0.31 EPS for the current fiscal year.

Desktop Metal Company Profile

(Free Report)

Desktop Metal, Inc manufactures and sells 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; Studio System, an office metal 3D printing system; and Desktop Metal Furnace, which is paired with the Studio System and binder jetting solutions to create turnkey metal additive manufacturing solutions.

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Institutional Ownership by Quarter for Desktop Metal (NYSE:DM)

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