Desktop Metal Inc (NYSE:DM) shares, rose in value, with the stock price down by -1.25% to the previous day’s close as strong demand from buyers drove the stock to $0.84.
Actively observing the price movement in the last trading, the stock closed the session at $0.85. The value of beta (5-year monthly) was 0.63. Referring to stock’s 52-week performance, its high was $2.37, and the low was $0.46. On the whole, DM has fluctuated by 52.67% over the past month.
With the market capitalization of Desktop Metal Inc currently standing at about $272.78 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 15, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.03 for fiscal year -$0.15 and then to about -$0.09 by fiscal year 2025. Data indicates that the EPS growth is expected to be 40.00% in 2025, while the next year’s EPS growth is forecast to be 40.00%.
Analysts have estimated the company’s revenue for the quarter at $40.8 million, with a low estimate of $40 million and a high estimate of $41.9 million. According to the average forecast, sales growth in current quarter could jump down -1.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $188.4 million, representing a decrease of -0.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DM currently trading nearly 16.44% and 29.75% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.11, while the 7-day volatility ratio is showing 7.93% which for the 30-day chart, stands at 11.48%. Furthermore, Desktop Metal Inc (DM)’s beta value is 0.68, and its average true range (ATR) is 0.07.
A comparison of Desktop Metal Inc (DM) with its peers suggests the former has fared considerably weaker in the market. DM showed an intraday change of -1.25% in last session, and over the past year, it shrunk by -63.48%%.
Data on historical trading for Desktop Metal Inc (NYSE:DM) indicates that the trading volumes over the past 10 days have averaged 2.55 million and over the past 3 months, they’ve averaged 3.67 million. According to company’s latest data on outstanding shares, there are 325.27 million shares outstanding.
Nearly 36.91% of Desktop Metal Inc’s shares belong to company insiders and institutional investors own 34.17% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 68.01 million shares as on Mar 15, 2024, resulting in a short ratio of 15.49. According to the data, the short interest in Desktop Metal Inc (DM) stood at 20.63% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 68.99 million. The stock has risen by 11.85% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DM stock heading into the next quarter.
