Why Desktop Metal Shares Are Rising Today

Desktop Metal Inc DM is trading higher Tuesday after the company reported better-than-expected financial results and issued guidance above estimates. 

Desktop Metal said fourth-quarter revenue increased 123% quarter-over-quarter to $56.68 million, which beat the $49.58 million estimate. 

"We believe our strategic priorities in 2022 will ensure continued success toward achieving our goal of double digit share of the over $100 billion additive manufacturing market by the end of the decade," said Ric Fulop, co-founder and CEO of Desktop Metal.

Desktop Metal expects full-year 2022 revenue to be around $260 million versus the $253 million estimate. 

See Also: Why Nine Energy Service Shares Are Surging

DM 52-Week Range: $3.25 - $21.47

Desktop Metal shares were up 7.49% at $3.81 at time of publication.

Photo: CR-3D from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceSmall CapMoversTrading IdeasRic Fulopwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!