Xometry (NASDAQ:XMTR) Stock Price Down 4.6% – Time to Sell?

Xometry, Inc. (NASDAQ:XMTR) shares were down 4.6% during trading on Tuesday . The company traded as low as $33.98 and last traded at $33.90. Approximately 133,344 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 670,156 shares. The stock had previously closed at $35.54.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on XMTR shares. Citigroup raised their target price on Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. UBS Group raised their price objective on Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 target price on shares of Xometry in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Xometry Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The company’s 50-day moving average price is $36.03 and its 200-day moving average price is $25.63. The firm has a market capitalization of $1.73 billion, a PE ratio of -33.02 and a beta of 0.65.

Insider Activity

In other news, COO Peter Goguen sold 3,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $34.50, for a total value of $103,500.00. Following the completion of the sale, the chief operating officer now directly owns 164,993 shares of the company’s stock, valued at approximately $5,692,258.50. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emily Rollins sold 3,729 shares of Xometry stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the completion of the transaction, the director now directly owns 12,457 shares in the company, valued at $367,356.93. The trade was a 23.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,605 shares of company stock worth $1,533,640. 16.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XMTR. FMR LLC raised its stake in shares of Xometry by 40.2% during the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock worth $74,921,000 after buying an additional 1,169,778 shares in the last quarter. Baillie Gifford & Co. purchased a new position in Xometry in the fourth quarter worth $30,297,000. Fred Alger Management LLC lifted its holdings in Xometry by 20.8% in the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock valued at $33,354,000 after acquiring an additional 312,971 shares during the period. Sylebra Capital LLC grew its position in Xometry by 19.1% during the third quarter. Sylebra Capital LLC now owns 1,796,867 shares of the company’s stock worth $33,008,000 after buying an additional 288,151 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Xometry by 44.9% in the second quarter. Dimensional Fund Advisors LP now owns 493,847 shares of the company’s stock valued at $5,712,000 after buying an additional 153,107 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

About Xometry

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.