Xometry (NASDAQ:XMTR) Stock Price Down 4.9% - Here's Why

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s stock price traded down 4.9% during trading on Tuesday . The stock traded as low as $32.98 and last traded at $33.08. 171,406 shares changed hands during trading, a decline of 72% from the average session volume of 616,185 shares. The stock had previously closed at $34.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald increased their price target on Xometry from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada upped their price objective on Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their target price on Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Xometry in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Xometry has an average rating of "Moderate Buy" and a consensus target price of $35.78.

Xometry Stock Down 8.6%

The firm has a 50 day moving average price of $33.59 and a two-hundred day moving average price of $30.61. The company has a quick ratio of 3.70, a current ratio of 3.74 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -32.12 and a beta of 0.83.

Insider Activity

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total value of $302,263.48. Following the transaction, the chief executive officer owned 319,602 shares of the company's stock, valued at $10,351,908.78. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Emily Rollins sold 10,041 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $30.70, for a total transaction of $308,258.70. Following the completion of the transaction, the director directly owned 11,105 shares in the company, valued at $340,923.50. This represents a 47.48% decrease in their position. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its position in Xometry by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock worth $190,000 after acquiring an additional 333 shares during the last quarter. Corebridge Financial Inc. lifted its position in Xometry by 1.6% during the 1st quarter. Corebridge Financial Inc. now owns 21,481 shares of the company's stock worth $535,000 after acquiring an additional 348 shares during the last quarter. Zevenbergen Capital Investments LLC lifted its position in Xometry by 5.1% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 10,250 shares of the company's stock worth $255,000 after acquiring an additional 500 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Xometry by 160.1% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock worth $25,000 after purchasing an additional 618 shares during the period. Finally, State of Wyoming increased its holdings in shares of 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 purchasing an additional 676 shares during the period. 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.

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