JPMorgan Chase & Co. Lowers Xometry (NASDAQ:XMTR) Price Target to $30.00

Xometry (NASDAQ:XMTR - Free Report) had its price objective cut by JPMorgan Chase & Co. from $45.00 to $30.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on XMTR. JMP Securities reiterated a "market outperform" rating and set a $42.00 price target on shares of Xometry in a research report on Monday, February 10th. Citigroup dropped their target price on shares of Xometry from $46.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. UBS Group raised their price target on shares of Xometry from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald boosted their price target on shares of Xometry from $12.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada increased their price objective on shares of Xometry from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $34.44.

Xometry Price Performance

Xometry stock traded down $0.11 during midday trading on Tuesday, reaching $24.75. The company had a trading volume of 43,387 shares, compared to its average volume of 604,188. Xometry has a 12-month low of $11.08 and a 12-month high of $45.33. The firm's fifty day simple moving average is $25.16 and its 200-day simple moving average is $29.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. The company has a market capitalization of $1.24 billion, a P/E ratio of -23.60 and a beta of 0.72.

Insider Transactions at Xometry

In other Xometry news, CEO Randolph Altschuler sold 27,566 shares of Xometry stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $26.60, for a total transaction of $733,255.60. Following the completion of the sale, the chief executive officer now directly owns 256,570 shares in the company, valued at $6,824,762. This trade represents a 9.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emily Rollins sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $20.66, for a total transaction of $41,320.00. Following the completion of the transaction, the director now owns 16,146 shares in the company, valued at approximately $333,576.36. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,256 shares of company stock worth $2,012,889 in the last 90 days. Insiders own 16.79% of the company's stock.

Institutional Trading of Xometry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its stake in shares of Xometry by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock valued at $190,000 after buying an additional 333 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Xometry by 160.1% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock valued at $25,000 after purchasing an additional 618 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Xometry in the fourth quarter valued at approximately $27,000. State of Wyoming lifted its holdings in Xometry by 8.2% during the 4th quarter. State of Wyoming now owns 8,876 shares of the company's stock worth $379,000 after buying an additional 676 shares in the last quarter. Finally, Comerica Bank boosted its position in Xometry by 195.1% in the 4th quarter. Comerica Bank now owns 1,133 shares of the company's stock valued at $48,000 after buying an additional 749 shares during the period. 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.