Xometry (NASDAQ:XMTR) Shares Up 7.1% - Should You Buy?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price traded up 7.1% during mid-day trading on Friday . The stock traded as high as $21.24 and last traded at $21.08. 174,559 shares were traded during mid-day trading, a decline of 70% from the average session volume of 588,792 shares. The stock had previously closed at $19.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on XMTR shares. Cantor Fitzgerald cut their price objective on shares of Xometry from $13.00 to $12.00 and set an "underweight" rating on the stock in a research note on Friday, August 9th. JMP Securities raised their target price on shares of Xometry from $27.00 to $32.00 and gave the company a "market outperform" rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.86.

Xometry Trading Up 14.2 %

The company has a quick ratio of 4.60, a current ratio of 4.64 and a debt-to-equity ratio of 0.89. The firm's 50-day simple moving average is $18.95 and its 200 day simple moving average is $16.39. The stock has a market capitalization of $1.11 billion, a P/E ratio of -20.33 and a beta of 0.57.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.13. Xometry had a negative return on equity of 10.75% and a negative net margin of 10.53%. The company had revenue of $132.60 million for the quarter, compared to analysts' expectations of $128.65 million. During the same quarter in the prior year, the company earned ($0.55) earnings per share. The firm's revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that Xometry, Inc. will post -0.81 EPS for the current fiscal year.

Insider Activity

In other news, CTO Matthew Leibel sold 3,400 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $18.45, for a total value of $62,730.00. Following the transaction, the chief technology officer now owns 82,918 shares in the company, valued at $1,529,837.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xometry

A number of hedge funds have recently modified their holdings of XMTR. ARK Investment Management LLC boosted its position in Xometry by 7.2% during the third 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 last quarter. US Bancorp DE raised its stake in shares of 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 in the last quarter. Palumbo Wealth Management LLC acquired a new stake in shares of Xometry during the 3rd quarter valued at about $191,000. Allspring Global Investments Holdings LLC grew its stake in shares of Xometry by 191.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 216,700 shares of the company's stock valued at $3,981,000 after buying an additional 142,262 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Xometry by 0.6% in the third 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 during the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.