Desktop Metal Inc (NYSE:DM) concluded the trading at $1.12 Wednesday, April 10, with a rise of 7.69% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $1.04 and 5Y monthly beta was reading 0.63. Considering stock’s 52-week price range provides that DM hit a high price of $2.37 and saw its price falling to a low level of $0.46 during that period. Over a period of past 1-month, stock came adding 79.95% in its value.
With its current market valuation of $363.71 million, Desktop Metal Inc is set to declare its quarterly results on Mar 15, 2024. Analysts are in estimates of -$0.06 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.15 for 2024 with estimates of that growing to -$0.09 in next year. These estimates are suggesting current year growth of 40.00% for EPS and 40.00% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $40.8 million. They suggested that in the process company could generate revenue of as low as $40 million which could climb up to $41.9 million to hit a high. The average estimate is representing a decrease of -1.20% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $188.4 million in 2024, which will be -0.70% less from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review DM stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 50% Buy for it.
Digging deeper we become aware of the PEG ratio of the DM stock which is currently positioned at 0. It further provides that stock’s current price level is 39.23% away from its 20-day simple moving average and is 65.10% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 74.39 while volatility remained at 15.59% over the past week which changes to 11.57% when measuring it over the past month. Beta is valued at 0.65, while measure of average true range or ATR is currently at 0.10.
Having a second look at Desktop Metal Inc (NYSE:DM) provides that stock’s average daily trading volume for 3 months was 3.56 million, while it jumped to 3.04 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 325.27 million.
The percentage of outstanding shares held by the insiders is 36.92% while it is 33.97% for the institutional holders. The figures also indicate that as of Mar 15, 2024, number of stock’s short shares was 68.01 million which implies a short ratio of 15.49. This shows down a 20.63% of Short Interest in company’s outstanding shares on the day. In March the standing of shares short improved as it was 68.99 million in the previous month. Addition of 49.13% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.
