Xometry (NASDAQ:XMTR) Shares Gap Down – Should You Sell?

Xometry, Inc. (NASDAQ:XMTR) gapped down before the market opened on Tuesday . The stock had previously closed at $31.31, but opened at $29.76. Xometry shares last traded at $28.32, with a volume of 100,524 shares.

Analyst Ratings Changes

Several brokerages have commented on XMTR. Wedbush reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Xometry in a research report on Friday, December 20th. Citigroup upped their target price on shares of Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Craig Hallum upped their price objective on shares of Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “underweight” rating and set a $12.00 target price on shares of Xometry in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Xometry presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Xometry Stock Performance

The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -28.43 and a beta of 0.65. The stock has a fifty day moving average price of $36.98 and a 200-day moving average price of $27.93.

Insiders Place Their Bets

In other news, CFO James Miln sold 5,386 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $42.33, for a total value of $227,989.38. Following the completion of the sale, the chief financial officer now directly owns 102,329 shares in the company, valued at approximately $4,331,586.57. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Peter Goguen sold 986 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total transaction of $39,518.88. Following the sale, the chief operating officer now directly owns 168,933 shares in the company, valued at approximately $6,770,834.64. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,312 shares of company stock worth $517,537 over the last three months. 16.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xometry

A number of large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in Xometry by 0.6% during the 3rd quarter. Raymond James & Associates now owns 287,986 shares of the company’s stock worth $5,290,000 after buying an additional 1,586 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Xometry by 191.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 216,700 shares of the company’s stock valued at $3,981,000 after acquiring an additional 142,262 shares during the last quarter. Palumbo Wealth Management LLC acquired a new stake in Xometry in the third quarter worth about $191,000. US Bancorp DE raised its holdings in Xometry by 57.7% during the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after purchasing an additional 2,037 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in Xometry by 7.2% during the 3rd quarter. ARK Investment Management LLC now owns 284,134 shares of the company’s stock valued at $5,220,000 after purchasing an additional 19,197 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.