Xometry (NASDAQ:XMTR) Trading Up 8% - Here's What Happened

Shares of Xometry, Inc. (NASDAQ:XMTR - Get Free Report) traded up 8% during mid-day trading on Tuesday . The company traded as high as $24.19 and last traded at $23.95. 110,219 shares were traded during trading, a decline of 82% from the average session volume of 603,470 shares. The stock had previously closed at $22.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Xometry from $45.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday. UBS Group boosted their price objective 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. 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 research note on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $42.00 price target on shares of Xometry in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on Xometry from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, January 3rd. One research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.44.

Xometry Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The firm has a fifty day simple moving average of $25.16 and a 200-day simple moving average of $29.47. The company has a market capitalization of $1.25 billion, a PE ratio of -23.59 and a beta of 0.72.

Insiders Place Their Bets

In other Xometry news, CFO James Miln sold 7,235 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $26.61, for a total value of $192,523.35. Following the sale, the chief financial officer now owns 131,090 shares in the company, valued at approximately $3,488,304.90. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Goguen sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $35.57, for a total value of $106,710.00. Following the completion of the transaction, the chief operating officer now directly owns 161,993 shares of the company's stock, valued at $5,762,091.01. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,256 shares of company stock valued at $2,012,889 in the last quarter. Insiders own 16.79% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Xometry by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company's stock valued at $183,151,000 after buying an additional 86,997 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of Xometry by 2.1% in the fourth quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company's stock valued at $78,270,000 after acquiring an additional 37,883 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Xometry by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company's stock valued at $42,861,000 after acquiring an additional 8,974 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Xometry by 225.7% during the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company's stock valued at $36,381,000 after acquiring an additional 590,974 shares during the period. Finally, First Trust Advisors LP raised its holdings in Xometry by 2,144.2% during the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company's stock worth $34,873,000 after purchasing an additional 781,049 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.