Ric Fulop, CEO of Desktop Metal (DM), recently added 6,000 shares. The buy increased his holdings by 0.03 percent, and came to a total cost just over $19,250.
This follows upon a 5,000 share buy from the prior week from the CEO, for $16,000, and a buy of 30,000 shares two weeks ago for just under $93,000. The CEO was also a buyer in March. One company director was a seller of shares last year.
Overall, company insiders own about 17 percent of shares.
Shares of the 3D printing company are down about 60 percent in the past year. The company went public last year, amid a bullish market for early-stage companies. While revenue is up 204 percent in the past year, the company is far from profitable, but has enough cash to move to profitability in the years ahead.
Action to take: Shares have already more than doubled off their recent lows. While a further decline in the coming weeks may be possible, the company is trading at a steep discount to its IPO valuation, and could be worth that much or more in the years ahead.
For traders, the January 2023 $5 calls, last going for about $0.25, could deliver high-double-digit gains or more on a further rally in shares in the coming months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.