Xometry (NASDAQ:XMTR) Shares Gap Down – Here’s What Happened

Shares of Xometry, Inc. (NASDAQ:XMTR) gapped down prior to trading on Tuesday . The stock had previously closed at $31.31, but opened at $29.76. Xometry shares last traded at $28.32, with a volume of 100,524 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on XMTR. JPMorgan Chase & Co. upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and upped their target price for the company from $25.00 to $45.00 in a research report on Wednesday, December 18th. Craig Hallum upped their price objective on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Xometry currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Xometry Price Performance

The company has a market cap of $1.52 billion, a P/E ratio of -28.43 and a beta of 0.65. The company’s 50-day moving average price is $36.98 and its 200-day moving average price is $27.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55.

Insider Buying and Selling at Xometry

In other news, CFO James Miln sold 5,386 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $42.33, for a total value of $227,989.38. Following the sale, the chief financial officer now directly owns 102,329 shares of the company’s stock, valued at approximately $4,331,586.57. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter Goguen sold 986 shares of Xometry stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total value of $39,518.88. Following the transaction, the chief operating officer now owns 168,933 shares of the company’s stock, valued at $6,770,834.64. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock valued at $517,537 in the last 90 days. 16.79% of the stock is currently owned by company insiders.

Institutional Trading of Xometry

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Xometry by 40.2% during the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after purchasing an additional 1,169,778 shares during the last quarter. First Trust Advisors LP raised its position in shares of Xometry by 2,144.2% in the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company’s stock valued at $34,873,000 after purchasing an additional 781,049 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Xometry during the 4th quarter worth about $30,297,000. Ameriprise Financial Inc. boosted its holdings in shares of Xometry by 225.7% during the 4th quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock worth $36,381,000 after buying an additional 590,974 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Xometry in the 4th quarter valued at about $17,623,000. 97.31% of the stock is owned by institutional investors and hedge funds.

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.