Xometry (NASDAQ:XMTR) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Xometry (NASDAQ:XMTR) from a neutral rating to an overweight rating in a research note published on Wednesday morning, MarketBeat Ratings reports. They currently have $45.00 target price on the stock, up from their previous target price of $25.00.

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

Xometry Price Performance

Shares of NASDAQ XMTR opened at $36.82 on Wednesday. Xometry has a fifty-two week low of $11.08 and a fifty-two week high of $41.43. 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’s 50-day simple moving average is $27.60 and its 200 day simple moving average is $19.92. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -35.07 and a beta of 0.83.

Insider Transactions at Xometry

In other news, Director Emily Rollins sold 3,729 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.49, for a total value of $109,968.21. Following the completion of the sale, the director now owns 12,457 shares of the company’s stock, valued at approximately $367,356.93. The trade was a 23.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Matthew Leibel sold 16,564 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total value of $498,245.12. Following the transaction, the chief technology officer now owns 77,856 shares in the company, valued at approximately $2,341,908.48. The trade was a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,233 shares of company stock worth $1,139,000. 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 XMTR. Weiss Asset Management LP bought a new stake in shares of Xometry in the 3rd quarter worth approximately $1,586,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Xometry in the third quarter valued at $355,000. Versor Investments LP purchased a new position in Xometry during the 3rd quarter valued at $411,000. ARK Investment Management LLC raised its holdings in Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company’s stock worth $3,063,000 after purchasing an additional 113,478 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Xometry by 191.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 216,700 shares of the company’s stock worth $3,981,000 after purchasing an additional 142,262 shares during the period. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.