Xometry (NASDAQ:XMTR) Trading Down 5.8% Following Analyst Downgrade

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price fell 5.8% during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $31.00 to $24.00. Citigroup currently has a buy rating on the stock. Xometry traded as low as $15.31 and last traded at $15.36. 109,600 shares were traded during mid-day trading, a decline of 84% from the average session volume of 666,832 shares. The stock had previously closed at $16.31.

A number of other research firms have also recently issued reports on XMTR. UBS Group cut their target price on shares of Xometry from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, March 13th. Royal Bank of Canada lowered their price target on shares of Xometry from $38.00 to $23.00 and set a "sector perform" rating for the company in a report on Friday, March 1st. JMP Securities reissued a "market outperform" rating and issued a $30.00 price target on shares of Xometry in a report on Tuesday, April 23rd. Craig Hallum lowered their price target on shares of Xometry from $23.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Xometry from $46.00 to $28.00 and set a "buy" rating for the company in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Xometry currently has an average rating of "Moderate Buy" and an average price target of $24.33.

Insiders Place Their Bets

In other news, COO Peter Goguen sold 3,943 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $17.61, for a total value of $69,436.23. Following the completion of the transaction, the chief operating officer now owns 197,211 shares of the company's stock, valued at approximately $3,472,885.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 5,243 shares of company stock valued at $93,002. Company insiders own 19.23% of the company's stock.

Hedge Funds Weigh In On Xometry

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Xometry in the 4th quarter valued at $125,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in Xometry in the 1st quarter valued at $169,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Xometry in the 3rd quarter valued at $180,000. State Board of Administration of Florida Retirement System lifted its position in Xometry by 22.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,840 shares of the company's stock valued at $200,000 after acquiring an additional 2,140 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Xometry in the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 97.31% of the company's stock.

Xometry Stock Down 5.0 %

The firm has a market capitalization of $714.86 million, a P/E ratio of -11.40 and a beta of 0.65. The firm's 50-day moving average is $16.80 and its 200 day moving average is $23.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.30 and a current ratio of 4.34.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Xometry had a negative return on equity of 15.90% and a negative net margin of 13.68%. The business had revenue of $128.15 million for the quarter, compared to the consensus estimate of $127.78 million. As a group, equities research analysts predict that Xometry, Inc. will post -0.99 EPS for the current fiscal year.

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.