Xometry (NASDAQ:XMTR) Price Target Lowered to $32.00 at Royal Bank of Canada

Xometry (NASDAQ:XMTR - Get Free Report) had its price target dropped by Royal Bank of Canada from $36.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 25.01% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Xometry from $45.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. UBS Group boosted their target price on shares of Xometry from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Citigroup cut their price target on shares of Xometry from $46.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and issued a $42.00 price objective on shares of Xometry in a report on Monday, February 10th. Finally, Cantor Fitzgerald lifted their target price on Xometry from $12.00 to $20.00 and gave the company an "underweight" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.56.

Xometry Price Performance

Shares of NASDAQ XMTR traded down $1.18 during midday trading on Tuesday, hitting $25.60. The stock had a trading volume of 411,399 shares, compared to its average volume of 662,183. The stock has a 50 day simple moving average of $24.69 and a 200-day simple moving average of $29.76. 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 company has a market capitalization of $1.29 billion, a PE ratio of -24.38 and a beta of 0.72. Xometry has a 1 year low of $11.08 and a 1 year high of $45.33.

Insider Activity

In other news, CFO James Miln sold 1,346 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $25.13, for a total transaction of $33,824.98. Following the completion of the transaction, the chief financial officer now directly owns 144,713 shares of the company's stock, valued at approximately $3,636,637.69. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Emily Rollins sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $20.66, for a total transaction of $41,320.00. Following the completion of the sale, the director now directly owns 16,146 shares in the company, valued at approximately $333,576.36. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,256 shares of company stock worth $2,012,889. Corporate insiders own 16.79% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Xometry by 160.1% during the 1st 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. Global Retirement Partners LLC acquired a new position in Xometry during the fourth quarter worth $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Xometry in the 4th quarter valued at about $38,000. Comerica Bank lifted its position in shares of Xometry by 195.1% during the 4th quarter. Comerica Bank now owns 1,133 shares of the company's stock valued at $48,000 after acquiring an additional 749 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in Xometry during the fourth quarter worth $51,000. 97.31% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.