Xometry (NASDAQ:XMTR) Trading Down 4% - Here's Why

Xometry, Inc. (NASDAQ:XMTR - Get Free Report)'s share price traded down 4% during mid-day trading on Thursday . The company traded as low as $32.48 and last traded at $32.48. 99,713 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 615,322 shares. The stock had previously closed at $33.82.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on XMTR shares. 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 research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their target price on Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group boosted their price target on Xometry from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Citigroup dropped their target price on Xometry from $46.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Royal Bank of Canada increased their target price on Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Xometry presently has an average rating of "Moderate Buy" and a consensus price target of $35.78.

Xometry Stock Performance

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -28.72 and a beta of 0.84. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $29.11 and a two-hundred day moving average price of $31.30.

Insider Buying and Selling at Xometry

In related news, CEO Randolph Altschuler sold 9,331 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $25.16, for a total value of $234,767.96. Following the completion of the transaction, the chief executive officer now owns 328,934 shares of the company's stock, valued at approximately $8,275,979.44. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Emily Rollins sold 10,041 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $30.70, for a total value of $308,258.70. Following the sale, the director now owns 11,105 shares in the company, valued at $340,923.50. The trade was a 47.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,644 shares of company stock valued at $666,660. Company insiders own 9.66% of the company's stock.

Institutional Trading of Xometry

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its position in Xometry by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock valued at $190,000 after acquiring an additional 333 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Xometry by 1.6% in the first quarter. Corebridge Financial Inc. now owns 21,481 shares of the company's stock valued at $535,000 after purchasing an additional 348 shares in the last quarter. Zevenbergen Capital Investments LLC lifted its holdings in shares of Xometry by 5.1% in the first quarter. Zevenbergen Capital Investments LLC now owns 10,250 shares of the company's stock valued at $255,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Xometry by 160.1% in the first 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. Finally, Global Retirement Partners LLC purchased a new stake in shares of Xometry during the fourth quarter worth $27,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.