Xometry (NASDAQ:XMTR) Raised to "Overweight" at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Xometry (NASDAQ:XMTR - Free Report) from a neutral rating to an overweight rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $45.00 target price on the stock, up from their previous target price of $25.00.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Xometry from $23.00 to $27.00 and gave the company a "sector perform" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Xometry from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Craig Hallum increased their price objective on Xometry from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. JMP Securities restated a "market outperform" rating and set a $42.00 target price on shares of Xometry in a research report on Monday. Finally, Citigroup raised their price target on Xometry from $25.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.88.

Xometry Price Performance

Shares of XMTR stock traded up $2.33 during trading hours on Wednesday, hitting $39.55. 542,537 shares of the company's stock were exchanged, compared to its average volume of 593,400. Xometry has a 52 week low of $11.08 and a 52 week high of $41.10. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -37.59 and a beta of 0.83. 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 stock's 50-day moving average is $27.20 and its 200-day moving average is $19.80.

Insider Activity

In other Xometry news, CTO Matthew Leibel sold 16,564 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total transaction of $498,245.12. Following the completion of the transaction, the chief technology officer now owns 77,856 shares in the company, valued at approximately $2,341,908.48. This represents a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emily Rollins sold 3,729 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.49, for a total transaction of $109,968.21. Following the transaction, the director now directly owns 12,457 shares of the company's stock, valued at $367,356.93. This represents a 23.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,233 shares of company stock valued at $1,139,000 in the last ninety days. 16.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Weiss Asset Management LP bought a new position in shares of Xometry in the third quarter valued at $1,586,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Xometry during the 3rd quarter worth about $355,000. Versor Investments LP acquired a new stake in Xometry in the 3rd quarter valued at about $411,000. ARK Investment Management LLC lifted its stake in Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company's stock valued at $3,063,000 after purchasing an additional 113,478 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Xometry by 191.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 216,700 shares of the company's stock worth $3,981,000 after buying an additional 142,262 shares during the last quarter. 97.31% of the stock is owned by institutional investors.

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.