Benchmark launched its Desktop Metal [DM] rating to the equivalent of Buy and assigned the price target of $28.0, in a research note dated 2021-01-08. That figure represents around a 37.12% premium from where the company’s shares closed on Thursday.
Is Desktop Metal Inc. [NYSE:DM] a Good Buy Right Now?
It should be noted that DM technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Desktop Metal Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 4.55 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 3.04 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.36 million shares.
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DM Price Performance
On Wall Street, Desktop Metal Inc. [NYSE:DM] finished Thursday’s session up 20.47% at $20.30. The stock went up to $20.59 at the same session while its lowest single day price was $17.12. In the last five days, it saw a rise of about 18.64%, Desktop Metal Inc. shares gained by almost 18.02% since the beginning of the year. However, the share price has dropped to as low as -20.14% below its one year high. On 01/07/21, the company shares recorded $20.59, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $15.95. The company’s shares have inclined by 103.41% in the past year. The 50-day SMA achieved is $14.46 while the 200-day SMA is $11.44. Volume gained to 6.1 million from 2.75 million in the previous session.
DM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 18.08 level, and in case of violation of this particular level, it will cause more drop to 15.87 level. On the upper level, 22.81 is still the key resistance. The stock may increase to the subsequent resistance at 21.55. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.28, implying a neutral technical stance while the MACD stands at -0.17, meaning price will decrease in the next trading period. Percent R indicator moved to 26.58%, implying bullish price movement. Stochastic %K at 34.37% suggest selling the stock.
DM Earnings Forecast For The Current Quarter
Desktop Metal Inc. [DM] is expected to report earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $9.82M and an earnings per share of -$0.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $11.05M at an EPS of -$0.07 for Mar 2021. The estimates represent 300.50% and 29.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
DM Earnings Estimates For The Current Year
For the financial year, Desktop Metal Inc. [NYSE:DM] is expected to bring in revenue of $17.92M. In terms of EPS for the 2020, estimate put it at -0.37.