Xometry (NASDAQ:XMTR) Shares Down 4.3% on Analyst Downgrade

Xometry, Inc. (NASDAQ:XMTR - Get Free Report) was down 4.3% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $36.00 to $32.00. Royal Bank of Canada currently has a sector perform rating on the stock. Xometry traded as low as $25.60 and last traded at $25.64. Approximately 211,743 shares traded hands during trading, a decline of 65% from the average daily volume of 607,402 shares. The stock had previously closed at $26.78.

A number of other brokerages have also recently weighed in on XMTR. JPMorgan Chase & Co. dropped their target price on shares of Xometry from $45.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. UBS Group increased their price objective on shares of Xometry from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. JMP Securities restated a "market outperform" rating and issued a $42.00 target price on shares of Xometry in a research note on Monday, February 10th. Citigroup dropped their price target on Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald raised their price target on Xometry from $12.00 to $20.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Xometry currently has a consensus rating of "Moderate Buy" and an average target price of $33.56.

Insider Activity at Xometry

In related news, CFO James Miln sold 25,852 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.06, for a total value of $621,999.12. Following the completion of the transaction, the chief financial officer now owns 105,238 shares in the company, valued at $2,532,026.28. This represents a 19.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Emily Rollins sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $20.66, for a total transaction of $41,320.00. Following the sale, the director now owns 16,146 shares in the company, valued at $333,576.36. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,256 shares of company stock worth $2,012,889 in the last three months. 16.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XMTR. GAMMA Investing LLC boosted its stake in Xometry by 160.1% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock valued at $25,000 after purchasing an additional 618 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Xometry in the fourth quarter valued at $27,000. Canada Pension Plan Investment Board bought a new position in Xometry during the fourth quarter valued at about $38,000. Comerica Bank grew its holdings in Xometry by 195.1% during the fourth quarter. Comerica Bank now owns 1,133 shares of the company's stock worth $48,000 after acquiring an additional 749 shares during the period. Finally, CoreCap Advisors LLC bought a new stake in Xometry in the fourth quarter worth about $51,000. 97.31% of the stock is currently owned by institutional investors.

Xometry Stock Down 3.9 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The stock's fifty day simple moving average is $24.69 and its two-hundred day simple moving average is $29.76. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -24.51 and a beta of 0.72.

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.

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