Xometry (NASDAQ:XMTR) Reaches New 1-Year High – What’s Next?

Xometry, Inc. (NASDAQ:XMTR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.62 and last traded at $39.62, with a volume of 18686 shares changing hands. The stock had previously closed at $37.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Craig Hallum raised their target price on shares of Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research report on Monday. Cantor Fitzgerald reiterated an “underweight” rating and set a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and raised their price target for the company from $25.00 to $45.00 in a research note on Wednesday. Finally, Citigroup upped their price objective on Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Xometry has an average rating of “Moderate Buy” and an average target price of $29.88.

Xometry Stock Down 0.6 %

The company has a market capitalization of $1.81 billion, a PE ratio of -34.86 and a beta of 0.83. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $27.98 and a two-hundred day simple moving average of $20.04.

Insider Activity at Xometry

In other news, Director Emily Rollins sold 3,729 shares of Xometry stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.49, for a total value of $109,968.21. Following the sale, the director now owns 12,457 shares of the company’s stock, valued at $367,356.93. The trade was a 23.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Matthew Leibel sold 16,564 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total transaction of $498,245.12. Following the transaction, the chief technology officer now owns 77,856 shares in the company, valued at approximately $2,341,908.48. This trade represents a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,219 shares of company stock worth $1,178,519 in the last three months. Insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

Several hedge funds have recently modified their holdings of XMTR. Bank of New York Mellon Corp raised its position in Xometry by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 140,522 shares of the company’s stock worth $1,624,000 after acquiring an additional 25,247 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company’s stock valued at $3,063,000 after purchasing an additional 113,478 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Xometry in the second quarter valued at about $330,000. Commonwealth Equity Services LLC boosted its holdings in Xometry by 66.0% during the second quarter. Commonwealth Equity Services LLC now owns 25,403 shares of the company’s stock worth $294,000 after buying an additional 10,103 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Xometry during the second quarter worth about $38,000. 97.31% of the stock is 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.