Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Xometry, Inc. (NASDAQ:XMTR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Xometry, Inc. by 54.0%, acquiring 65,625 additional shares, bringing its total ownership to approximately 0.37% of the company worth $4.66 million.
• Xometry's stock has shown volatility, trading at $47.46 recently, with a market capitalization of $2.41 billion and a one-year high of $48.60, indicating a strong upward trend.
• Following Xometry's recent earnings report, the company beat expectations with $0.09 EPS for the quarter and reported a 22.6% increase in revenue compared to the same period last year.

Connor Clark & Lunn Investment Management Ltd. raised its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 54.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,064 shares of the company's stock after acquiring an additional 65,625 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Xometry worth $4,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Xometry during the 4th quarter valued at about $38,000. GAMMA Investing LLC boosted its stake in Xometry by 160.1% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock worth $25,000 after acquiring an additional 618 shares in the last quarter. Comerica Bank boosted its stake in Xometry by 195.1% during the fourth quarter. Comerica Bank now owns 1,133 shares of the company's stock worth $48,000 after acquiring an additional 749 shares in the last quarter. CoreCap Advisors LLC bought a new stake in Xometry during the fourth quarter worth about $51,000. Finally, CWM LLC boosted its stake in Xometry by 825.6% during the first quarter. CWM LLC now owns 1,555 shares of the company's stock worth $39,000 after acquiring an additional 1,387 shares in the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

Insider Buying and Selling

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total transaction of $302,263.48. Following the transaction, the chief executive officer directly owned 319,602 shares in the company, valued at $10,351,908.78. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.66% of the stock is owned by corporate insiders.

Xometry Price Performance

XMTR stock traded down $0.72 during trading on Thursday, hitting $47.18. 665,263 shares of the company's stock traded hands, compared to its average volume of 1,018,462. Xometry, Inc. has a 52 week low of $16.11 and a 52 week high of $48.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.85 and a current ratio of 3.91. The business has a fifty day simple moving average of $35.08 and a 200 day simple moving average of $30.98. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -38.36 and a beta of 0.83.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. Xometry had a negative net margin of 10.20% and a negative return on equity of 6.79%. The business had revenue of $162.55 million for the quarter, compared to the consensus estimate of $156.53 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business's revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts expect that Xometry, Inc. will post -0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

XMTR has been the subject of several recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Xometry in a report on Friday, July 11th. The Goldman Sachs Group lifted their target price on shares of Xometry from $33.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada lifted their target price on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. JMP Securities boosted their price objective on shares of Xometry from $45.00 to $50.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, UBS Group boosted their price objective on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Xometry has an average rating of "Moderate Buy" and a consensus price target of $40.44.

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.