Xometry (NASDAQ:XMTR) Price Target Cut to $12.00

Xometry (NASDAQ:XMTR) had its price objective reduced by equities researchers at Cantor Fitzgerald from $13.00 to $12.00 in a report issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential downside of 25.19% from the company’s previous close.

XMTR has been the topic of several other reports. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Xometry in a report on Tuesday, July 23rd. Citigroup decreased their target price on shares of Xometry from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Finally, Craig Hallum decreased their target price on shares of Xometry from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.14.

Xometry Trading Up 0.2 %

NASDAQ:XMTR traded up $0.04 during mid-day trading on Friday, hitting $16.04. 937,687 shares of the stock traded hands, compared to its average volume of 655,883. The stock has a market capitalization of $739.83 million, a price-to-earnings ratio of -11.79 and a beta of 0.53. Xometry has a 52 week low of $11.08 and a 52 week high of $38.74. The firm’s 50 day moving average is $13.48 and its two-hundred day moving average is $18.49. The company has a quick ratio of 4.30, a current ratio of 4.34 and a debt-to-equity ratio of 0.88.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.02. The company had revenue of $122.69 million for the quarter, compared to the consensus estimate of $119.00 million. Xometry had a negative net margin of 13.68% and a negative return on equity of 15.90%. On average, equities research analysts predict that Xometry will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Subir Dutt purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $15.55 per share, with a total value of $155,500.00. Following the completion of the acquisition, the insider now owns 46,864 shares in the company, valued at approximately $728,735.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 2,286 shares of company stock valued at $27,662. Insiders own 19.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Xometry in the second quarter worth $38,000. Quest Partners LLC acquired a new stake in shares of Xometry in the fourth quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Xometry by 13.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,401 shares of the company’s stock worth $266,000 after acquiring an additional 894 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Xometry by 50,118.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,035 shares of the company’s stock worth $289,000 after acquiring an additional 8,019 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Xometry in the first quarter worth $169,000. 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.