Xometry (NASDAQ:XMTR) Trading Down 6.5% – Here’s What Happened

Shares of Xometry, Inc. (NASDAQ:XMTR) were down 6.5% during trading on Wednesday . The stock traded as low as $86.37 and last traded at $86.45. Approximately 156,637 shares were traded during trading, a decline of 82% from the average daily volume of 881,431 shares. The stock had previously closed at $92.45.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on XMTR. Wedbush started coverage on shares of Xometry in a research report on Thursday, July 16th. They set an “outperform” rating and a $126.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Citigroup increased their price objective on shares of Xometry from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Xometry has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Xometry Price Performance

The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -140.43 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20. The business’s fifty day moving average price is $91.43 and its 200-day moving average price is $72.95.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The company had revenue of $229.28 million for the quarter, compared to analyst estimates of $215.22 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue was up 41.1% on a year-over-year basis. On average, research analysts forecast that Xometry, Inc. will post -0.01 EPS for the current year.

Insider Buying and Selling at Xometry

In other Xometry news, CTO Vaidyanathan Raghavan sold 5,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $96.77, for a total value of $483,850.00. Following the transaction, the chief technology officer owned 135,777 shares of the company’s stock, valued at approximately $13,139,140.29. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randolph Altschuler sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total value of $908,200.00. Following the sale, the director directly owned 551,270 shares of the company’s stock, valued at approximately $50,066,341.40. This represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,553 shares of company stock valued at $5,116,368 in the last ninety days. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xometry

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in Xometry by 9,368.5% in the second quarter. California State Teachers Retirement System now owns 4,901,865 shares of the company’s stock valued at $473,128,000 after purchasing an additional 4,850,095 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Xometry by 54.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock valued at $107,029,000 after buying an additional 690,558 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Xometry by 9.2% during the 4th quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock worth $93,729,000 after acquiring an additional 132,792 shares during the period. Wellington Management Group LLP increased its holdings in Xometry by 26.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock worth $127,656,000 after acquiring an additional 280,491 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Xometry in the 4th quarter worth about $76,393,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.