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

Xometry, Inc. (NASDAQ:XMTR) rose 6.4% on Monday . The stock traded as high as $22.52 and last traded at $21.26. Approximately 347,003 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 607,578 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

XMTR has been the topic of several research reports. Citigroup reduced their price target on shares of Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada boosted their price target on shares of Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research report on Monday, February 10th. Cantor Fitzgerald lifted their target price on Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. Finally, UBS Group upped their price target on 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 issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Xometry has a consensus rating of “Moderate Buy” and an average target price of $36.11.

Xometry Price Performance

The stock has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $29.31. The company has a market capitalization of $1.05 billion, a PE ratio of -19.91 and a beta of 0.72. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90.

Insider Transactions at Xometry

In other Xometry news, COO Peter Goguen sold 3,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $34.50, for a total value of $103,500.00. Following the transaction, the chief operating officer now directly owns 164,993 shares in the company, valued at $5,692,258.50. This represents a 1.79 % decrease in their ownership of the stock. The sale 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 that occurred on 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 directly owns 144,713 shares in the company, valued at approximately $3,636,637.69. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,256 shares of company stock valued at $2,075,069. Corporate insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

Several hedge funds have recently made changes to their positions in XMTR. Barclays PLC lifted its holdings in shares of Xometry by 360.9% in the 3rd quarter. Barclays PLC now owns 68,951 shares of the company’s stock valued at $1,266,000 after purchasing an additional 53,991 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Xometry in the third quarter valued at approximately $1,586,000. Charles Schwab Investment Management Inc. lifted its stake in Xometry by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 354,849 shares of the company’s stock valued at $6,519,000 after buying an additional 16,396 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Xometry in the third quarter valued at approximately $341,000. Finally, State Street Corp grew its position in shares of Xometry by 0.3% during the third 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. 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.