Xometry (NASDAQ:XMTR) Reaches New 12-Month High – Time to Buy?

Xometry, Inc. (NASDAQ:XMTR)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $39.62 and last traded at $39.62, with a volume of 18686 shares trading hands. The stock had previously closed at $37.22.

Wall Street Analysts Forecast Growth

XMTR has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald restated an “underweight” rating and issued a $12.00 target price on shares of Xometry in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Xometry from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research note on Monday. Finally, Citigroup lifted their target price on shares of Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.88.

Xometry Trading Down 0.6 %

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -34.86 and a beta of 0.83. 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 business has a fifty day moving average price of $27.98 and a 200 day moving average price of $20.04.

Insiders Place Their Bets

In other Xometry news, Director Emily Rollins sold 3,729 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the completion of the sale, the director now directly owns 12,457 shares in the company, valued at $367,356.93. The trade was a 23.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Goguen sold 12,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.55, for a total transaction of $354,600.00. Following the completion of the transaction, the chief operating officer now directly owns 180,419 shares in the company, valued at approximately $5,331,381.45. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,219 shares of company stock worth $1,178,519 over the last three months. 16.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

Several institutional investors and hedge funds have recently modified their holdings of XMTR. Primecap Management Co. CA lifted its position in Xometry by 1.7% during the 3rd quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company’s stock worth $127,088,000 after acquiring an additional 113,264 shares in the last quarter. FMR LLC grew its position in Xometry by 40.2% in the third quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after acquiring an additional 1,169,778 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Xometry by 20.8% during the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock valued at $33,354,000 after purchasing an additional 312,971 shares during the period. Sylebra Capital LLC lifted its position in shares of Xometry by 19.1% during the third quarter. Sylebra Capital LLC now owns 1,796,867 shares of the company’s stock worth $33,008,000 after purchasing an additional 288,151 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Xometry by 4.3% in the third quarter. Geode Capital Management LLC now owns 995,478 shares of the company’s stock valued at $18,291,000 after purchasing an additional 41,341 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

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.