Xometry (NASDAQ:XMTR) Stock Price Up 7.9% – Time to Buy?

Xometry, Inc. (NASDAQ:XMTR) rose 7.9% during mid-day trading on Wednesday . The stock traded as high as $25.71 and last traded at $25.50. Approximately 544,451 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 689,632 shares. The stock had previously closed at $23.64.

Wall Street Analyst Weigh In

XMTR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $45.00 in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Cantor Fitzgerald upped their price objective on shares of Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $42.00 price objective on shares of Xometry in a research note on Monday, February 10th. Finally, Citigroup decreased their target price on shares of Xometry from $46.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Xometry currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

Xometry Price Performance

The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $33.48 and a 200 day moving average price of $28.51. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -24.42 and a beta of 0.69.

Insider Activity

In other news, CFO James Miln sold 25,852 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.06, for a total transaction of $621,999.12. Following the completion of the sale, the chief financial officer now owns 105,238 shares of the company’s stock, valued at $2,532,026.28. The trade was a 19.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Randolph Altschuler sold 27,566 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $26.60, for a total transaction of $733,255.60. Following the completion of the transaction, the chief executive officer now directly owns 256,570 shares in the company, valued at $6,824,762. This represents a 9.70 % 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 three months. 16.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xometry

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in Xometry in the 4th quarter valued at $159,000. Sylebra Capital LLC boosted its position in Xometry by 2.1% during the fourth quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock worth $78,270,000 after acquiring an additional 37,883 shares during the last quarter. 49 Wealth Management LLC acquired a new stake in Xometry in the 4th quarter valued at about $319,000. State of Wyoming lifted its stake in Xometry by 8.2% in the 4th quarter. State of Wyoming now owns 8,876 shares of the company’s stock worth $379,000 after purchasing an additional 676 shares in the last quarter. Finally, Polar Capital Holdings Plc acquired a new position in shares of Xometry during the 4th quarter worth approximately $14,070,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

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.