In this article, we will be looking at the 5 best 3D printing stocks to buy now. If you want to see our detailed analysis on the additive manufacturing industry, you can go directly to the 10 Best 3D Printing Stocks to Buy Now.
5. Desktop Metal, Inc. (NYSE: DM)
Number of Hedge Fund Holders: 20
Desktop Metal, Inc. (NYSE: DM) provides additive manufacturing solutions for engineers, designers, and manufacturers in the US, Europe, the Middle East, Africa, and the Asia Pacific. The company ranks 5th on our list of the best 3D printing stocks to buy now.
This June, Credit Suisse initiated coverage of Desktop Metal, Inc. (NYSE: DM) with a Neutral rating and a $14 price target. Analyst Matthew Cabral has commented that the company has great potential ahead in the 3D printing market. Desktop Metal, Inc. (NYSE: DM) is also reportedly joining the Russell 2000 Index as of the same month.
In the first quarter of 2021, Desktop Metal, Inc. (NYSE: DM) beat EPS estimates by $0.15 with their $0.03 EPS. Revenue for the quarter stood at $11.31 million, representing a 2.58% growth year over year, and beating estimates by $1.39 million. The stock has gained 2.30% in the past year as well.
By the end of the first quarter of 2021, 20 hedge funds out of the 866 tracked by Insider Monkey held stakes in Desktop Metal, Inc. (NYSE: DM). The total value of their stakes came up to roughly $216 million. This is compared to 24 hedge fund holders in the previous quarter with a total stake value of about $320 million.
Baron Growth Fund mentioned Desktop Metal, Inc. (NYSE: DM) in its investor letter for the fourth quarter of 2020. Here‘s what they said:
“This quarter the Fund made a private investment in Desktop Metal, Inc., an emerging leader in additive manufacturing systems. Additive manufacturing, which is colloquially known as “3D printing,” has long tantalized manufacturers with the idea of a single machine capable of producing an unlimited number of parts with infinite degrees of complexity from a vast array of materials.
Traditional manufacturing techniques frequently rely on expensive equipment known as “tooling.” Tooling is limited in the range of parts it can make, and creates high levels of scrap, waste, and pollution. Manufacturers also have to make runs that exceed a minimum size in order to cover the significant upfront cost of the equipment. We believe that additive manufacturing has the potential to improve on many of these shortcomings. A single, flexible additive manufacturing system can reduce the required investment in tooling, eliminate scrap, waste, and inventory, decrease time-to-market, and reduce complexity. Ultimately, additive manufacturing can reduce the total cost to make a part of product. (Click here to see the full text)
