Xometry (NASDAQ:XMTR) Trading Down 3.8% - Should You Sell?

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s share price fell 3.8% on Thursday . The stock traded as low as $33.11 and last traded at $33.01. 183,508 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 598,782 shares. The stock had previously closed at $34.33.

Analyst Ratings Changes

A number of brokerages have commented on XMTR. The Goldman Sachs Group upped their price target on shares of Xometry from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup cut their price target on shares of Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada upped their price target on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. JMP Securities reaffirmed a "market outperform" rating and set a $42.00 price target on shares of Xometry in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.89.

Xometry Stock Up 0.6%

The company has a market cap of $1.68 billion, a P/E ratio of -31.49 and a beta of 0.71. The stock's 50-day moving average price is $27.06 and its 200-day moving average price is $31.07. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90.

Insider Transactions at Xometry

In related news, CEO Randolph Altschuler sold 9,331 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $25.16, for a total value of $234,767.96. Following the sale, the chief executive officer now owns 328,934 shares in the company, valued at $8,275,979.44. This represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Emily Rollins sold 2,000 shares of the company'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 completion of the sale, the director now owns 16,146 shares in the company, valued at $333,576.36. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,496 shares of company stock valued at $1,288,659 in the last 90 days. 9.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xometry

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of Xometry by 5.7% in 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 during the last quarter. State of Wyoming raised its holdings in shares of Xometry by 8.2% in 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 during the last quarter. Truist Financial Corp acquired a new stake in shares of Xometry in the 4th quarter worth about $225,000. Principal Financial Group Inc. purchased a new stake in Xometry in the 4th quarter valued at about $1,258,000. Finally, Envestnet Asset Management Inc. increased its stake in Xometry by 34.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,294 shares of the company's stock valued at $1,506,000 after buying an additional 8,970 shares during the last quarter. Institutional investors and hedge funds 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.