Xometry (NASDAQ:XMTR) Stock Price Down 8.3% - Should You Sell?

Key Points

• Xometry shares fell 8.3% to about $98.90 in midday trading, with trading volume down sharply versus its daily average.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus from eight Buy, four Hold, and one Sell rating; the average price target is $113.18.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.16 in EPS and $229.28 million in revenue, up 41.1% year over year. However, insiders sold 63,199 shares worth approximately $6.0 million over the past 90 days.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares dropped 8.3% during mid-day trading on Wednesday. The company traded as low as $99.68 and last traded at $98.8970. Approximately 149,010 shares were traded during trading, a decline of 83% from the average daily volume of 879,168 shares. The stock had previously closed at $107.90.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their target price on Xometry from $85.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. BNP Paribas Exane assumed coverage on Xometry in a research report on Friday, September 18th. They set an "outperform" rating and a $120.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Xometry in a report on Monday, August 24th. They issued an "overweight" rating and a $120.00 price objective on the stock. Citigroup restated a "market outperform" rating on shares of Xometry in a report on Monday, September 21st. Finally, Rosenblatt Securities lifted their price target on Xometry from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Xometry presently has a consensus rating of "Moderate Buy" and an average target price of $113.18.

Xometry Trading Down 12.0%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. The stock has a fifty day moving average of $95.23 and a 200 day moving average of $82.93. The company has a market capitalization of $4.92 billion, a PE ratio of -157.14 and a beta of 1.23.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The company had revenue of $229.28 million during the quarter, compared to analyst estimates of $215.22 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, sell-side analysts predict that Xometry, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In other news, Director Fabio Rosati sold 8,100 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $91.45, for a total value of $740,745.00. Following the completion of the sale, the director owned 93,567 shares in the company, valued at $8,556,702.15. This represents a 7.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Emily Rollins sold 5,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total transaction of $421,550.00. Following the completion of the sale, the director owned 15,136 shares of the company's stock, valued at $1,276,116.16. This represents a 24.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 63,199 shares of company stock worth $6,006,535. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xometry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XMTR. Integrated Wealth Concepts LLC bought a new position in shares of Xometry during the 2nd quarter worth about $36,000. GAMMA Investing LLC boosted its holdings in Xometry by 36.5% in the third quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $99,000 after acquiring an additional 256 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Xometry during the second quarter valued at $97,000. Nykredit A S bought a new position in shares of Xometry during the second quarter valued at $103,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Xometry by 74.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company's stock valued at $67,000 after acquiring an additional 697 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company's stock.

About Xometry

Xometry, Inc is a digital manufacturing marketplace that connects businesses with a network of manufacturing suppliers. Its platform uses software and artificial intelligence to help customers obtain quotes, place orders, and manage production for custom parts and components.

The company supports a range of manufacturing processes, including computer numerical control machining, 3D printing, sheet metal fabrication, injection molding, and related services. Xometry serves customers across industries such as aerospace and defense, automotive, industrial machinery, consumer products, and healthcare.

Founded in 2013, Xometry has expanded its marketplace and digital manufacturing services internationally, serving customers and suppliers in North America, Europe, and Asia.

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