Xometry (NASDAQ:XMTR) Shares Gap Down - Time to Sell?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $31.31, but opened at $29.76. Xometry shares last traded at $28.32, with a volume of 100,524 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on XMTR shares. Citigroup cut their target price on shares of Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised Xometry from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $25.00 to $45.00 in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on Xometry from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $42.00 target price on shares of Xometry in a research report on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Xometry from $24.00 to $28.00 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 issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.11.

Xometry Price Performance

The business has a fifty day moving average price of $36.13 and a 200 day moving average price of $28.08. 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 $1.35 billion, a price-to-earnings ratio of -26.02 and a beta of 0.65.

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Insider Buying and Selling at Xometry

In related news, COO Peter Goguen sold 940 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $42.36, for a total transaction of $39,818.40. Following the transaction, the chief operating officer now owns 167,993 shares in the company, valued at $7,116,183.48. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Miln sold 5,386 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $42.33, for a total value of $227,989.38. Following the sale, the chief financial officer now directly owns 102,329 shares in the company, valued at approximately $4,331,586.57. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,312 shares of company stock valued at $517,537. Company insiders own 16.79% of the company's stock.

Institutional Investors Weigh In On Xometry

Several hedge funds have recently modified their holdings of XMTR. Summit Investment Advisors Inc. raised its holdings in Xometry by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock worth $190,000 after buying an additional 333 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Xometry in the fourth quarter worth approximately $27,000. State of Wyoming increased its position in shares of Xometry by 8.2% in the fourth quarter. State of Wyoming now owns 8,876 shares of the company's stock worth $379,000 after acquiring an additional 676 shares in the last quarter. Comerica Bank raised its holdings in shares of Xometry by 195.1% during the fourth quarter. Comerica Bank now owns 1,133 shares of the company's stock valued at $48,000 after acquiring an additional 749 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Xometry by 7.9% in the 4th quarter. Arizona State Retirement System now owns 12,180 shares of the company's stock valued at $520,000 after acquiring an additional 891 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other 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.