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Desktop Metal Inc. (NYSE: DM) Has Yet To Win Over Analysts?

Desktop Metal Inc. (NYSE:DM) traded at $1.80 at close of the session on Tuesday, 01/24/23, made a downward move of -3.74% on its previous day’s price.

Looking at the stock we see that its previous close was $1.87 and the beta (5Y monthly) reads 0.36 with the day’s price range being $1.75 – $1.89. In terms of its 52-week price range, DM has a high of $5.28 and a low of $1.13. The company’s stock has gained about 38.46% over that past 30 days.

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Desktop Metal Inc. has a market cap of $519.70 million and is expected to release its quarterly earnings report on Mar 06, 2023 – Mar 10, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.08, with the EPS growth for the year raised at -$0.37 for 2022 and -$0.19 for next year. These figures represent -32.10% and 48.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $60.27 million, with a low of $57.7 million and a high of $64.6 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $251.88 million, or 124.10% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the DM stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is 18.85% off its SMA20 and 4.31% from its 50-day simple moving average. The RSI (14) is pointing at 57.68 while the volatility over the past week is 8.80% and jumps to 8.63% over the past one month. The beta value is 0.46, while the average true range (ATR) is currently pointing at 0.14.

Coming back to Desktop Metal Inc. (NYSE:DM), we note that the average 3-month trading volume was 3.62 million, while that of the preceding 10-day period stands at 3.78 million. Current shares outstanding are 316.01 million.

The insiders hold 6.60% of the company’s shares while institutions hold 49.80%. The data shows that short shares as of Oct 13, 2022, stood at 62.11 million at a short ratio of 18.06. This represents a 19.68% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 59.15 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 32.35% up in year-to-date price movement.

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