Xometry (NASDAQ:XMTR) Trading 7.9% Higher – What’s Next?

Shares of Xometry, Inc. (NASDAQ:XMTR) shot up 7.9% on Wednesday . The stock traded as high as $25.71 and last traded at $25.50. 544,451 shares were traded during trading, a decline of 21% from the average session volume of 689,632 shares. The stock had previously closed at $23.64.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on XMTR. JMP Securities reiterated a “market outperform” rating and issued a $42.00 target price on shares of Xometry in a report on Monday, February 10th. Royal Bank of Canada increased their price objective on Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised shares of Xometry from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $45.00 in a research note on Wednesday, December 18th. Wedbush reissued an “outperform” rating and set a $48.00 price target on shares of Xometry in a research report on Friday, December 20th. Finally, Cantor Fitzgerald lifted their target price on Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Xometry Stock Up 8.5 %

The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $33.48 and its 200 day moving average price is $28.51. The firm has a market capitalization of $1.27 billion, a PE ratio of -24.42 and a beta of 0.69.

Insider Transactions at Xometry

In other Xometry news, CEO Randolph Altschuler sold 27,566 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $26.60, for a total transaction of $733,255.60. Following the sale, the chief executive officer now directly owns 256,570 shares in the company, valued at approximately $6,824,762. The trade was a 9.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Goguen sold 986 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total transaction of $39,518.88. Following the transaction, the chief operating officer now owns 168,933 shares in the company, valued at $6,770,834.64. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,965 shares of company stock worth $2,065,315 over the last 90 days. 16.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xometry

Several hedge funds have recently added to or reduced their stakes in XMTR. Global Retirement Partners LLC acquired a new stake in Xometry during the 4th quarter valued at $27,000. Canada Pension Plan Investment Board purchased a new position in Xometry in the 4th quarter valued at about $38,000. Comerica Bank boosted its stake in shares of Xometry by 195.1% during the 4th quarter. Comerica Bank now owns 1,133 shares of the company’s stock worth $48,000 after purchasing an additional 749 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Xometry during the fourth quarter worth about $51,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Xometry during the fourth quarter valued at approximately $73,000. 97.31% of the stock is currently 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.