Xometry (NASDAQ:XMTR) Trading Down 6.9% – Here’s Why

Xometry, Inc. (NASDAQ:XMTR) fell 6.9% on Thursday . The stock traded as low as $23.73 and last traded at $23.87. 136,603 shares traded hands during trading, a decline of 80% from the average session volume of 686,963 shares. The stock had previously closed at $25.64.

Wall Street Analyst Weigh In

A number of research firms have issued reports 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 dropped their price objective on Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald boosted their target price on Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada increased their price target on shares of Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Finally, UBS Group raised their price objective on shares of Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Xometry has a consensus rating of “Moderate Buy” and a consensus target price of $36.11.

Xometry Stock Performance

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 stock has a market cap of $1.23 billion, a PE ratio of -23.62 and a beta of 0.69. The firm’s 50-day moving average is $32.41 and its 200 day moving average is $28.49.

Insider Activity

In related news, COO Peter Goguen sold 986 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total transaction of $39,518.88. Following the completion of the sale, the chief operating officer now directly owns 168,933 shares of the company’s stock, valued at $6,770,834.64. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Miln sold 25,852 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $24.06, for a total transaction of $621,999.12. Following the completion of the transaction, the chief financial officer now directly owns 105,238 shares in the company, valued at $2,532,026.28. This represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,965 shares of company stock valued at $2,065,315. Insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Xometry by 40.2% in the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after buying an additional 1,169,778 shares during the period. First Trust Advisors LP lifted its holdings in Xometry by 2,144.2% in the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company’s stock valued at $34,873,000 after acquiring an additional 781,049 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Xometry during the 4th quarter worth $30,297,000. Ameriprise Financial Inc. grew its stake in shares of Xometry by 225.7% during the 4th quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock worth $36,381,000 after purchasing an additional 590,974 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Xometry in the 4th quarter valued at about $17,623,000. Institutional investors and hedge funds own 97.31% of the company’s stock.

Xometry Company Profile

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.