Cresset Asset Management LLC Takes $51,000 Position in Desktop Metal, Inc. (NYSE:DM)

Cresset Asset Management LLC bought a new stake in shares of Desktop Metal, Inc. (NYSE:DM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 21,655 shares of the pipeline company’s stock, valued at approximately $51,000.

Several other hedge funds also recently bought and sold shares of DM. Virtu Financial LLC bought a new stake in Desktop Metal during the fourth quarter valued at about $90,000. Renaissance Technologies LLC raised its stake in Desktop Metal by 65.5% during the 4th quarter. Renaissance Technologies LLC now owns 50,262 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 19,900 shares during the period. Marshall Wace LLP purchased a new position in Desktop Metal in the 4th quarter worth approximately $256,000. Olympiad Research LP boosted its stake in Desktop Metal by 99.6% in the 4th quarter. Olympiad Research LP now owns 203,252 shares of the pipeline company’s stock worth $476,000 after purchasing an additional 101,419 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Desktop Metal by 19.5% during the 4th quarter. Gabelli Funds LLC now owns 432,706 shares of the pipeline company’s stock valued at $1,013,000 after buying an additional 70,758 shares in the last quarter. Institutional investors own 56.31% of the company’s stock.

Desktop Metal Stock Up 1.0%

Shares of DM stock opened at $4.96 on Monday. The company’s fifty day simple moving average is $4.48 and its two-hundred day simple moving average is $3.56. Desktop Metal, Inc. has a 52 week low of $1.84 and a 52 week high of $6.54. The stock has a market cap of $165.37 million, a P/E ratio of -0.44 and a beta of 0.17. The company has a quick ratio of 1.02, a current ratio of 2.34 and a debt-to-equity ratio of 1.56.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Desktop Metal in a research report on Tuesday, May 13th. They set a “hold” rating on the stock.

Desktop Metal Company Profile

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 Shop System, an entry-level metal 3D printing using binder jetting; X-series platform that provides binder jet 3D printing of specialty materials, including metals and ceramics, and tools; and P-Series offers high-speed metal 3D printing.