Xometry (NASDAQ:XMTR) Sees Unusually-High Trading Volume - Should You Buy?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,833,035 shares changed hands during mid-day trading, an increase of 177% from the previous session's volume of 661,675 shares.The stock last traded at $35.01 and had previously closed at $36.20.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target 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. Royal Bank of Canada increased their price target on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on shares of Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Citigroup cut their target price on shares of Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group upped their target price on shares of Xometry from $33.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.78.

Xometry Trading Up 0.5%

The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. The firm has a market capitalization of $1.71 billion, a PE ratio of -32.21 and a beta of 0.84. The business's 50-day moving average price is $28.67 and its 200-day moving average price is $31.31.

Insider Transactions at Xometry

In related news, Director Emily Rollins sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was 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 of the company's stock, valued at $333,576.36. This trade represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Randolph Altschuler sold 9,331 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $25.16, for a total value of $234,767.96. Following the completion of the sale, the chief executive officer now directly owns 328,934 shares of the company's stock, valued at approximately $8,275,979.44. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,644 shares of company stock worth $666,660. Insiders own 9.66% of the company's stock.

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XMTR. State of Wyoming lifted its position in Xometry by 8.2% during the 4th quarter. State of Wyoming now owns 8,876 shares of the company's stock worth $379,000 after acquiring an additional 676 shares in the last quarter. Rhumbline Advisers lifted its position in Xometry by 5.7% during the 4th quarter. Rhumbline Advisers now owns 59,367 shares of the company's stock worth $2,533,000 after acquiring an additional 3,180 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Xometry during the 4th quarter worth approximately $259,000. Truist Financial Corp acquired a new position in Xometry during the 4th quarter worth approximately $225,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Xometry in the 4th quarter valued at approximately $1,258,000. Hedge funds and other institutional investors own 97.31% of the company's stock.

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.