Xometry (NASDAQ:XMTR) Shares Gap Up - What's Next?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.06, but opened at $23.12. Xometry shares last traded at $22.10, with a volume of 96,692 shares traded.

Wall Street Analysts Forecast Growth

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

Xometry Price Performance

The business's 50 day moving average price is $19.03 and its two-hundred day moving average price is $16.48. The stock has a market cap of $1.27 billion, a P/E ratio of -23.71 and a beta of 0.55. The company has a current ratio of 4.64, a quick ratio of 4.60 and a debt-to-equity ratio of 0.89.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sylebra Capital LLC increased its holdings in Xometry by 134.2% during the second quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company's stock valued at $17,441,000 after buying an additional 864,454 shares during the last quarter. Bellecapital International Ltd. purchased a new stake in Xometry during the second quarter valued at approximately $6,281,000. Clearbridge Investments LLC increased its holdings in Xometry by 20.7% during the first quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company's stock valued at $21,461,000 after buying an additional 217,939 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Xometry during the second quarter valued at approximately $2,013,000. Finally, Squarepoint Ops LLC increased its holdings in Xometry by 227.7% during the second quarter. Squarepoint Ops LLC now owns 249,025 shares of the company's stock valued at $2,879,000 after buying an additional 173,042 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.