BlackRock Fund Advisors recently announced the acquisition of new stake in Desktop Metal Inc (NYSE:DM). The institutional investor has increased its shareholding in the Technology company by 0.72% to 18.64 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 5.74% valued currently at $13.05 million. In addition, Group One Trading LP raised its holdings by 6.31 million to 9.8 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.09% or 0.17 million shares – to 8.37 million shares.
Currently, there are 318.13M common shares owned by the public and among those 213.57M shares have been available to trade.
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The top 3 mutual fund holders in Desktop Metal Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 7.05 million shares of the company’s stock, all valued at over $4.93 million. The company sold -0.3 million shares recently to bring their total holdings to about 2.17% of the shares outstanding. iShares Russell 2000 ETF bought 3321.0 shares to see its total holdings expand to 6.75 million shares valued at over $4.73 million and representing 2.08% of the shares outstanding. Vanguard Small Cap Index Fund bought 2840.0 shares to bring its total holdings to over 5.81 million shares at a value of $4.07 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.79% of the shares outstanding.
However, the script later moved the day high at 0.7784, up 13.23%. The company’s stock has a 5-day price change of 17.53% and -51.19% over the past three months. DM shares are trading -44.74% year to date (YTD), with the 12-month market performance down to -45.93% lower. It has a 12-month low price of $0.61 and touched a high of $2.55 over the same period. DM has an average intraday trading volume of 3.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.88%, -15.36%, and -53.56% respectively.
Institutional ownership of Desktop Metal Inc (NYSE: DM) shares accounts for 38.82% of the company’s 318.13M shares outstanding. Mutual fund holders own 20.33%, while other institutional holders and individual stakeholders account for 34.40% and 18.53% respectively.
It has a market capitalization of $244.07M and a beta (3y monthly) value of 0.62. The earnings-per-share (ttm) stands at -$1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.43% over the week and 9.78% over the month.
Analysts forecast that Desktop Metal Inc (DM) will achieve an EPS of -$0.04 for the current quarter, -$0.05 for the next quarter and -$0.14 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 33.77%, and 47.27% over the next financial year. EPS should grow at an annualized rate of 46.00% over the next five years, compared to -552.17% over the past 5-year period.
Looking at the support for the DM, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on January 06, 2023, with the firm’s price target at $1.75.
