Xometry (NASDAQ:XMTR) Shares Down 5.9% - Here's Why

Key Points

• Xometry shares fell 5.9% to about $90.58, with trading volume down 92% from the average session, indicating relatively light activity behind the decline.
• Analyst views remain mixed: six rate the stock Buy, four Hold and one Sell, producing an overall “Hold” rating and a consensus price target of $101.88.
• Xometry exceeded quarterly expectations, reporting $0.16 EPS versus $0.15 expected and revenue of $229.28 million, up 41.1% year over year; however, the company remains unprofitable on a net-margin basis.

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price fell 5.9% during trading on Monday . The stock traded as low as $91.26 and last traded at $90.5820. 75,776 shares traded hands during trading, a decline of 92% from the average session volume of 921,329 shares. The stock had previously closed at $96.26.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XMTR. Citigroup increased their target price on Xometry from $98.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on Xometry from $85.00 to $100.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xometry in a report on Friday, May 29th. Citizens Jmp boosted their price target on shares of Xometry from $75.00 to $100.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group upped their price target on shares of Xometry from $78.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Xometry presently has an average rating of "Hold" and a consensus target price of $101.88.

Xometry Stock Performance

The stock's 50 day moving average is $91.34 and its two-hundred day moving average is $69.53. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20. The firm has a market capitalization of $4.62 billion, a P/E ratio of -148.44 and a beta of 1.30.

Xometry (NASDAQ:XMTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The business had revenue of $229.28 million for the quarter, compared to the consensus estimate of $215.22 million. During the same period last year, the company posted $0.09 EPS. Xometry's revenue for the quarter was up 41.1% on a year-over-year basis. As a group, equities analysts anticipate that Xometry, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Miln sold 2,392 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $93.29, for a total transaction of $223,149.68. Following the sale, the chief financial officer directly owned 179,131 shares in the company, valued at $16,711,130.99. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lukas Alexander Biewald purchased 47,058 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $85.00 per share, for a total transaction of $3,999,930.00. Following the purchase, the director directly owned 55,134 shares in the company, valued at approximately $4,686,390. This trade represents a 582.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 78,053 shares of company stock worth $6,995,183 in the last three months. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xometry

Several hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new position in Xometry in the fourth quarter valued at $28,000. Quantbot Technologies LP acquired a new position in shares of Xometry during the 3rd quarter worth about $30,000. Leonteq Securities AG acquired a new position in shares of Xometry during the 4th quarter worth about $59,000. Comerica Bank grew its holdings in shares of Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company's stock valued at $62,000 after acquiring an additional 173 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Xometry by 74.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company's stock valued at $67,000 after acquiring an additional 697 shares during the last quarter. 97.31% of the stock is owned by institutional investors.

Xometry Company Profile

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.

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