Xometry (NASDAQ:XMTR) Shares Down 4.9% - Should You Sell?

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

Analysts Set New Price Targets

Several research firms recently weighed in on XMTR. Royal Bank Of Canada upped their price objective on shares of 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 upped their price objective on shares of Xometry from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. UBS Group upped their price target on shares of Xometry from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Cantor Fitzgerald upped their price target on shares of Xometry from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Xometry from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.78.

Xometry Stock Up 3.5%

The business has a fifty day moving average of $33.60 and a 200 day moving average of $30.46. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -32.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.74 and a quick ratio of 3.70.

Insider Buying and Selling

In related news, CEO Randolph Altschuler sold 9,332 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 in the company, valued at approximately $10,351,908.78. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Emily Rollins sold 10,041 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $30.70, for a total value of $308,258.70. Following the completion of the transaction, the director 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. Corporate insiders own 9.66% of the company's stock.

Institutional Investors Weigh In On Xometry

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Xometry by 160.1% during the first 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. Canada Pension Plan Investment Board bought a new stake in Xometry during the fourth quarter worth approximately $38,000. CWM LLC boosted its position in Xometry by 825.6% during the first quarter. CWM LLC now owns 1,555 shares of the company's stock worth $39,000 after purchasing an additional 1,387 shares during the period. Comerica Bank boosted its position 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 purchasing an additional 749 shares during the period. Finally, CoreCap Advisors LLC bought a new stake in Xometry during the fourth quarter worth approximately $51,000. 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.