Xometry (NASDAQ:XMTR) Hits New 12-Month High – Here’s Why

Xometry, Inc. (NASDAQ:XMTR) reached a new 52-week high on Wednesday . The stock traded as high as $39.62 and last traded at $39.62, with a volume of 18686 shares changing hands. The stock had previously closed at $37.22.

Analyst Ratings Changes

XMTR has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research report on Monday. The Goldman Sachs Group upped their target price 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. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $12.00 price target on shares of Xometry in a research note on Wednesday, November 6th. Craig Hallum increased their price objective on Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Citigroup lifted their target price on Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.88.

Xometry Stock Performance

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 firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -37.59 and a beta of 0.83. The business has a 50-day moving average price of $27.20 and a 200-day moving average price of $19.80.

Insiders Place Their Bets

In other Xometry news, Director Emily Rollins sold 3,729 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the completion of the transaction, the director now directly owns 12,457 shares of the company’s stock, valued at approximately $367,356.93. This trade represents a 23.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Peter Goguen sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $32.00, for a total transaction of $160,000.00. Following the completion of the sale, the chief operating officer now directly owns 175,419 shares in the company, valued at $5,613,408. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,233 shares of company stock valued at $1,139,000. 16.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Xometry by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 140,522 shares of the company’s stock valued at $1,624,000 after purchasing an additional 25,247 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company’s stock valued at $3,063,000 after purchasing an additional 113,478 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Xometry during the 2nd quarter worth about $330,000. Commonwealth Equity Services LLC lifted its position in Xometry by 66.0% in the second quarter. Commonwealth Equity Services LLC now owns 25,403 shares of the company’s stock valued at $294,000 after buying an additional 10,103 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Xometry during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

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.