Citigroup Lowers Xometry (NASDAQ:XMTR) Price Target to $39.00

Xometry (NASDAQ:XMTR) had its price target dropped by investment analysts at Citigroup from $46.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 40.06% from the company’s current price.

Other analysts also recently issued research reports about the stock. Craig Hallum boosted their price objective on shares of Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted 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. The Goldman Sachs Group boosted their price objective on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald boosted their price objective on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $45.00 in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.11.

Xometry Trading Up 3.1 %

NASDAQ:XMTR traded up $0.83 on Thursday, reaching $27.85. 413,620 shares of the company’s stock were exchanged, compared to its average volume of 660,486. 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 firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -26.44 and a beta of 0.65. The business has a fifty day moving average of $36.61 and a 200-day moving average of $28.01. Xometry has a 52-week low of $11.08 and a 52-week high of $45.33.

Insider Buying and Selling at Xometry

In related news, CFO James Miln sold 5,386 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $42.33, for a total transaction of $227,989.38. Following the completion of the sale, the chief financial officer now owns 102,329 shares of the company’s stock, valued at approximately $4,331,586.57. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter Goguen sold 940 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $42.36, for a total transaction of $39,818.40. Following the completion of the sale, the chief operating officer now directly owns 167,993 shares of the company’s stock, valued at $7,116,183.48. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,312 shares of company stock worth $517,537. Corporate insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

Several large investors have recently added to or reduced their stakes in XMTR. Global Retirement Partners LLC bought a new position in Xometry during the fourth quarter worth $27,000. Canada Pension Plan Investment Board bought a new stake in shares of Xometry during the fourth quarter valued at about $38,000. Comerica Bank raised its stake in shares of Xometry by 195.1% during the fourth quarter. Comerica Bank now owns 1,133 shares of the company’s stock valued at $48,000 after purchasing an additional 749 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Xometry during the fourth quarter worth about $51,000. Finally, SBI Securities Co. Ltd. acquired a new position in Xometry during the fourth quarter worth about $73,000. 97.31% of the stock is currently owned by 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.