Xometry (NASDAQ:XMTR) Trading Down 6.9% - Here's Why

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price fell 6.9% during trading on Thursday . The company traded as low as $23.73 and last traded at $23.87. 136,603 shares were traded during mid-day trading, a decline of 80% from the average session volume of 686,963 shares. The stock had previously closed at $25.64.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XMTR. JPMorgan Chase & Co. upgraded shares of Xometry from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $25.00 to $45.00 in a research report on Wednesday, December 18th. Wedbush reiterated an "outperform" rating and set a $48.00 price objective on shares of Xometry in a research note on Friday, December 20th. Citigroup cut their target price on Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Cantor Fitzgerald increased their price objective on Xometry from $12.00 to $20.00 and gave the company an "underweight" rating in a report on Wednesday, February 26th. Finally, UBS Group upped their target price on Xometry from $22.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One equities research 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. According to data from MarketBeat.com, Xometry has an average rating of "Moderate Buy" and a consensus price target of $36.11.

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Xometry Trading Up 1.0 %

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 has a market cap of $1.26 billion, a price-to-earnings ratio of -23.78 and a beta of 0.69. The business's 50 day moving average is $32.41 and its 200 day moving average is $28.60.

Insiders Place Their Bets

In related news, CFO James Miln sold 25,852 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.06, for a total value of $621,999.12. Following the sale, the chief financial officer now directly owns 105,238 shares of the company's stock, valued at approximately $2,532,026.28. This represents a 19.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randolph Altschuler sold 27,566 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $26.60, for a total value of $733,255.60. Following the sale, the chief executive officer now owns 256,570 shares in the company, valued at approximately $6,824,762. This trade represents a 9.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,965 shares of company stock valued at $2,065,315 over the last quarter. Company insiders own 16.79% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in XMTR. Barclays PLC boosted its stake in Xometry by 360.9% during the third quarter. Barclays PLC now owns 68,951 shares of the company's stock valued at $1,266,000 after buying an additional 53,991 shares in the last quarter. Weiss Asset Management LP bought a new position in Xometry in the 3rd quarter worth approximately $1,586,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Xometry in the third quarter valued at about $355,000. Primecap Management Co. CA boosted its position in shares of Xometry by 1.7% during the 3rd quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company's stock valued at $127,088,000 after acquiring an additional 113,264 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Xometry by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 354,849 shares of the company's stock valued at $6,519,000 after acquiring an additional 16,396 shares during the period. 97.31% of the stock is currently owned by 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.