Xometry (NASDAQ:XMTR) Shares Down 6.9% – Here’s What Happened

Xometry, Inc. (NASDAQ:XMTR) fell 6.9% on Thursday . The stock traded as low as $23.73 and last traded at $23.87. 136,603 shares were traded during mid-day trading, a decline of 80% from the average session volume of 686,963 shares. The stock had previously closed at $25.64.

Wall Street Analyst Weigh In

XMTR has been the subject of several research reports. JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $45.00 in a report on Wednesday, December 18th. UBS Group boosted their price objective on shares of Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Royal Bank of Canada raised their target price on shares of Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Cantor Fitzgerald raised their price objective on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Xometry in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.11.

Xometry Price Performance

The company has a fifty day simple moving average of $32.41 and a two-hundred day simple moving average of $28.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -23.62 and a beta of 0.69.

Insider Activity at Xometry

In other Xometry news, COO Peter Goguen sold 940 shares of Xometry stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $42.36, for a total value of $39,818.40. Following the transaction, the chief operating officer now owns 167,993 shares in the company, valued at $7,116,183.48. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Miln sold 25,852 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.06, for a total value of $621,999.12. Following the completion of the transaction, the chief financial officer now directly owns 105,238 shares in the company, valued at $2,532,026.28. This trade represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,965 shares of company stock worth $2,065,315. 16.79% of the stock is currently owned by insiders.

Institutional Trading of Xometry

A number of institutional investors have recently modified their holdings of the company. Centaurus Financial Inc. acquired a new position in Xometry during the fourth quarter valued at approximately $159,000. Sylebra Capital LLC lifted its holdings in shares of Xometry by 2.1% during the 4th quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock valued at $78,270,000 after acquiring an additional 37,883 shares in the last quarter. 49 Wealth Management LLC acquired a new stake in Xometry in the 4th quarter valued at $319,000. State of Wyoming raised its position in Xometry by 8.2% in the fourth quarter. State of Wyoming now owns 8,876 shares of the company’s stock valued at $379,000 after purchasing an additional 676 shares during the period. Finally, Polar Capital Holdings Plc acquired a new position in shares of Xometry during the fourth quarter worth about $14,070,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

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.