On March 2, 2023 at 13:39:08 ET an unusually large $12.50K block of Call contracts in Desktop Metal (DM) was bought, with a strike price of $3.00 / share, expiring in 169 days (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ? sigmas above the mean, placing it in the 76.28 percentile of all recent large trades made in DM options.

This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.

Analyst Price Forecast Suggests 101.74% Upside

As of February 16, 2023, the average one-year price target for Desktop Metal is $3.03. The forecasts range from a low of $1.77 to a high of $5.25. The average price target represents an increase of 101.74% from its latest reported closing price of $1.50.

The projected annual revenue for Desktop Metal is $279MM, an increase of 33.67%. The projected annual non-GAAP EPS is -$0.24.

What is the Fund Sentiment?

There are 346 funds or institutions reporting positions in Desktop Metal. This is a decrease of 13 owner(s) or 3.62% in the last quarter. Average portfolio weight of all funds dedicated to DM is 0.05%, a decrease of 4.24%. Total shares owned by institutions decreased in the last three months by 0.92% to 147,273K shares. The put/call ratio of DM is 0.57, indicating a bullish outlook.

What are large shareholders doing?

NEA Management Company holds 14,399K shares representing 4.52% ownership of the company. In it’s prior filing, the firm reported owning 14,408K shares, representing a decrease of 0.06%. The firm decreased its portfolio allocation in DM by 40.92% over the last quarter.

Alphabet holds 11,049K shares representing 3.47% ownership of the company. No change in the last quarter.

Koch Industries holds 9,384K shares representing 2.95% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 6,996K shares representing 2.20% ownership of the company. In it’s prior filing, the firm reported owning 6,681K shares, representing an increase of 4.50%. The firm decreased its portfolio allocation in DM by 49.22% over the last quarter.

Janus Henderson Group holds 6,775K shares representing 2.13% ownership of the company. In it’s prior filing, the firm reported owning 6,774K shares, representing an increase of 0.01%. The firm decreased its portfolio allocation in DM by 82.46% over the last quarter.

Desktop Metal Background Information
(This description is provided by the company.)

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with end-to-end 3D printing solutions. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make 3D printing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum; named to MIT Technology Review’s list of 50 Smartest Companies; and recognized among the most important innovations in engineering in Popular Science’s “Best of What’s New.”

This article originally appeared on Fintel

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