Xometry (NASDAQ:XMTR) Sees Large Volume Increase - What's Next?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 1,833,035 shares were traded 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on XMTR shares. JPMorgan Chase & Co. raised their price objective on shares of Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald raised their price objective on shares of Xometry from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Wednesday, May 7th. Citigroup reduced their price objective on shares of Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.78.

Xometry Price Performance

The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -28.72 and a beta of 0.84. The company's 50 day moving average is $29.11 and its 200 day moving average is $31.30.

Insiders Place Their Bets

In other news, CFO James Miln sold 1,346 shares of Xometry stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $25.13, for a total value of $33,824.98. Following the sale, the chief financial officer now owns 144,713 shares of the company's stock, valued at $3,636,637.69. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Randolph Altschuler sold 9,331 shares of Xometry stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $25.16, for a total transaction of $234,767.96. Following the completion of the sale, the chief executive officer now directly owns 328,934 shares in the company, valued at approximately $8,275,979.44. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,644 shares of company stock valued at $666,660. Insiders own 9.66% of the company's stock.

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently made changes to their positions in XMTR. First Trust Advisors LP boosted its holdings in Xometry by 2,144.2% during the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company's stock worth $34,873,000 after buying an additional 781,049 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Xometry during the fourth quarter worth about $30,297,000. Ameriprise Financial Inc. boosted its holdings in Xometry by 225.7% during the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company's stock worth $36,381,000 after buying an additional 590,974 shares in the last quarter. Nuveen LLC purchased a new stake in Xometry during the first quarter worth about $14,639,000. Finally, Next Century Growth Investors LLC boosted its holdings in Xometry by 194.1% during the first quarter. Next Century Growth Investors LLC now owns 664,292 shares of the company's stock worth $16,554,000 after buying an additional 438,393 shares in the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

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.