Desktop Metal Inc (NYSE: DM)’s stock price has plunge by -5.20relation to previous closing price of 0.81. Nevertheless, the company has seen a -3.73% plunge in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-09 that Desktop Metal, Inc. (NYSE:DM ) Q3 2023 Earnings Conference Call November 9, 2023 12:00 PM ET Company Participants Michael Jordan – VP, Finance & Treasury Ric Fulop – CEO, Founder Jason Cole – CFO Conference Call Participants Greg Palm – Craig-Hallum Operator Greetings and welcome to Desktop Metal’s third-quarter 2023 earnings conference call. [Operator Instructions].
Is It Worth Investing in Desktop Metal Inc (NYSE: DM) Right Now?
Additionally, the 36-month beta value for DM is 0.70. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The average price predicted by analysts for DM is $1.00, which is $0.23 above the current price. The public float for DM is 214.41M and currently, short sellers hold a 34.20% ratio of that float. The average trading volume of DM on November 21, 2023 was 2.58M shares.
DM’s Market Performance
The stock of Desktop Metal Inc (DM) has seen a -3.73% decrease in the past week, with a -33.11% drop in the past month, and a -48.72% fall in the past quarter. The volatility ratio for the week is 8.09%, and the volatility levels for the past 30 days are at 9.91% for DM. The simple moving average for the past 20 days is -13.24% for DM’s stock, with a -55.39% simple moving average for the past 200 days.
Analysts’ Opinion of DM
Many brokerage firms have already submitted their reports for DM stocks, with Morgan Stanley repeating the rating for DM by listing it as a “Equal-Weight.” The predicted price for DM in the upcoming period, according to Morgan Stanley is $1.75 based on the research report published on January 06, 2023 of the current year 2023.
DM Trading at -34.49% from the 50-Day Moving Average
After a stumble in the market that brought DM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -69.84% of loss for the given period.
Volatility was left at 9.91%, however, over the last 30 days, the volatility rate increased by 8.09%, as shares sank -25.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -51.62% lower at present.
During the last 5 trading sessions, DM fell by -3.73%, which changed the moving average for the period of 200-days by -63.89% in comparison to the 20-day moving average, which settled at $0.8735. In addition, Desktop Metal Inc saw -43.44% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at DM starting from DUSSAULT SCOTT J, who sale 26,969 shares at the price of $2.40 back on Mar 06. After this action, DUSSAULT SCOTT J now owns 0 shares of Desktop Metal Inc, valued at $64,726 using the latest closing price.
Stock Fundamentals for DM
Equity return is now at value -76.07, with -54.39 for asset returns.
In conclusion, Desktop Metal Inc (DM) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.