Xometry, Inc. (NASDAQ:XMTR) Short Interest Up 7,237.7% in July

Key Points

• Xometry, Inc. experienced a monumental increase in short interest of 7,237.7% in July, with short interest totaling 5,650,000 shares as of July 15th.
• The stock's trading volume was 331,547 shares on a recent trading day, significantly lower than its average of 663,943 shares, leading to a days-to-cover ratio of 8.3 days.
• Equities analysts have recently raised their price targets for Xometry, with a consensus target price set at $35.78 and a consensus rating of "Moderate Buy."

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 5,650,000 shares, agrowthof7,237.7% from the June 30th total of 77,000 shares. Based on an average daily trading volume, of 676,900 shares, the days-to-cover ratio is presently 8.3 days. Currently,13.4% of the company's shares are sold short. Currently,13.4% of the company's shares are sold short. Based on an average daily trading volume, of 676,900 shares, the days-to-cover ratio is presently 8.3 days.

Xometry Price Performance

Shares of XMTR traded up $13.95 during trading hours on Tuesday, reaching $44.92. 2,417,390 shares of the stock traded hands, compared to its average volume of 676,452. The company has a current ratio of 3.74, a quick ratio of 3.70 and a debt-to-equity ratio of 0.91. Xometry has a 52-week low of $11.33 and a 52-week high of $45.33. The company's 50-day moving average price is $33.34 and its two-hundred day moving average price is $30.30. The company has a market cap of $2.28 billion, a P/E ratio of -45.57 and a beta of 0.83.

Insider Transactions at Xometry

In related news, Director Emily Rollins sold 10,041 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $30.70, for a total value of $308,258.70. Following the sale, the director directly owned 11,105 shares of the company's stock, valued at $340,923.50. This trade represents a 47.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Randolph Altschuler sold 9,332 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $32.39, for a total value of $302,263.48. Following the completion of the sale, the chief executive officer directly owned 319,602 shares in the company, valued at $10,351,908.78. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State of Wyoming raised its position in shares of Xometry by 8.2% during the 4th quarter. State of Wyoming now owns 8,876 shares of the company's stock valued at $379,000 after buying an additional 676 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Xometry during the 1st quarter valued at about $420,000. GAMMA Investing LLC grew its holdings in Xometry by 6,381.9% during the 1st quarter. GAMMA Investing LLC now owns 25,020 shares of the company's stock valued at $623,000 after purchasing an additional 24,634 shares during the last quarter. SG Americas Securities LLC grew its holdings in Xometry by 259.0% during the 1st quarter. SG Americas Securities LLC now owns 50,035 shares of the company's stock valued at $1,247,000 after purchasing an additional 36,097 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Xometry during the 4th quarter valued at about $259,000. Hedge funds and other institutional investors own 97.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Cantor Fitzgerald boosted their price objective on shares of Xometry from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Wednesday, May 7th. Citigroup reaffirmed an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Finally, UBS Group lifted their target price on shares of Xometry from $33.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Xometry has an average rating of "Moderate Buy" and a consensus price target of $35.78.

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.