Gold prices steady ahead of Fed decision; weekly weakness noted
In a turbulent market environment, Desktop Metal Inc. (NYSE:DM) stock has recorded a new 52-week low, dipping to $2.02. According to InvestingPro data, the company’s overall financial health score stands at a concerning 1.51 (WEAK), with revenue declining nearly 15% in the last twelve months. The company, known for its innovative 3D printing solutions, has faced significant headwinds over the past year, reflected in a stark 1-year change with a decline of -63.1%. Investors have shown concern as the stock struggles to regain momentum amidst broader economic pressures and industry-specific hurdles, with InvestingPro analysis revealing weak gross profit margins of 11.3% and rapid cash burn. The current price level marks a critical juncture for Desktop Metal as it navigates through a challenging phase in its market trajectory. For deeper insights into DM’s financial health and growth prospects, access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Desktop Metal has maintained a Neutral stock rating from Cantor Fitzgerald, with a consistent price target set at $5. The financial research firm noted that Desktop Metal has retracted its financial guidance, leading many analysts to stop publishing estimates for the company. Cantor Fitzgerald projects a sequential revenue increase of 21% for the upcoming quarterly report, although this would still reflect a 16% decline compared to the same period last year. This follows a trend of three consecutive quarters of sequential revenue declines for Desktop Metal. The company is reportedly focusing on conserving cash and managing the completion of a recent acquisition amidst challenging macroeconomic conditions. The analysts highlighted that broader industry trends suggest continued difficulties in hardware sales, which could impact Desktop Metal’s short-term performance. These developments paint a cautious picture for investors as Desktop Metal navigates through these industry challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.