Xometry (NASDAQ:XMTR) Trading Up 6.4% – Here’s Why

Xometry, Inc. (NASDAQ:XMTR)’s share price shot up 6.4% during mid-day trading on Monday . The stock traded as high as $22.52 and last traded at $21.26. 347,003 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 607,578 shares. The stock had previously closed at $19.98.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on XMTR shares. Cantor Fitzgerald raised their price target on shares of Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $48.00 target price on shares of Xometry in a research report on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $45.00 in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price objective 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. Finally, JMP Securities restated a “market outperform” rating and issued a $42.00 target price on shares of Xometry in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Xometry currently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

Xometry Trading Up 14.1 %

The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.11 billion, a P/E ratio of -21.02 and a beta of 0.72. The firm’s 50-day moving average price is $28.23 and its 200 day moving average price is $29.22.

Insiders Place Their Bets

In other news, COO Peter Goguen sold 3,000 shares of Xometry stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $35.57, for a total transaction of $106,710.00. Following the sale, the chief operating officer now directly owns 161,993 shares in the company, valued at $5,762,091.01. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Miln sold 1,346 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $25.13, for a total transaction of $33,824.98. Following the sale, the chief financial officer now owns 144,713 shares of the company’s stock, valued at $3,636,637.69. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,256 shares of company stock valued at $2,116,389. Corporate insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Xometry by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company’s stock valued at $183,151,000 after purchasing an additional 86,997 shares during the period. Sylebra Capital LLC lifted its position in shares of Xometry by 2.1% during the 4th quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock valued at $78,270,000 after buying an additional 37,883 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Xometry by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company’s stock worth $42,861,000 after acquiring an additional 8,974 shares during the period. State Street Corp increased its holdings in Xometry by 0.3% in the 3rd quarter. State Street Corp now owns 887,139 shares of the company’s stock worth $16,297,000 after acquiring an additional 3,027 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Xometry by 225.7% during the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock valued at $36,381,000 after purchasing an additional 590,974 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.

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.