Xometry (NASDAQ:XMTR) Trading Down 6.5% - Here's What Happened

Key Points

• Xometry shares fell 6.5% in mid-day trading to $86.45, with trading volume down 82% from its average daily level.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $108.33, despite one sell rating.
• The company exceeded quarterly expectations, reporting $0.16 EPS and $229.28 million in revenue, up 41.1% year over year, though it remains unprofitable with a negative net margin.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares traded down 6.5% during mid-day trading on Wednesday . The stock traded as low as $86.37 and last traded at $86.45. Approximately 156,637 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 881,431 shares. The stock had previously closed at $92.45.

Analyst Ratings Changes

XMTR has been the subject of several recent research reports. Wedbush assumed coverage on Xometry in a research report on Thursday, July 16th. They set an "outperform" rating and a $126.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of Xometry from $85.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Rosenblatt Securities initiated coverage on shares of Xometry in a research report on Thursday, August 20th. They issued a "buy" rating and a $110.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Xometry in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. assumed coverage on Xometry in a research note on Monday, August 24th. They issued an "overweight" rating and a $120.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.33.

Xometry Trading Down 9.0%

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 market capitalization of $4.36 billion, a price-to-earnings ratio of -140.43 and a beta of 1.32. The business has a fifty day simple moving average of $91.43 and a 200 day simple moving average of $72.95.

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

Insider Activity

In other news, Director Katharine Weymouth sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $95.23, for a total value of $476,150.00. Following the completion of the transaction, the director directly owned 35,345 shares in the company, valued at approximately $3,365,904.35. This represents a 12.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fabio Rosati sold 8,100 shares of Xometry stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $91.45, for a total value of $740,745.00. Following the sale, the director directly owned 93,567 shares in the company, valued at $8,556,702.15. The trade was a 7.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 55,553 shares of company stock valued at $5,116,368. Corporate insiders own 9.10% of the company's stock.

Hedge Funds Weigh In On Xometry

A number of hedge funds have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. acquired a new stake in Xometry during the 4th quarter worth about $28,000. Quantbot Technologies LP acquired a new position in shares of Xometry in the 3rd quarter valued at about $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of Xometry during the 2nd quarter valued at about $36,000. Leonteq Securities AG bought a new stake in shares of Xometry during the 4th quarter valued at about $59,000. Finally, Comerica Bank grew its stake in Xometry by 17.9% during the third quarter. Comerica Bank now owns 1,140 shares of the company's stock worth $62,000 after purchasing an additional 173 shares during the period. Institutional investors own 97.31% of the company's stock.

About Xometry

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.

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