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

Xometry, Inc. (NASDAQ:XMTR) shares gapped down before the market opened on Tuesday. The stock had previously closed at $95.49, but opened at $87.80. Xometry shares last traded at $91.6790, with a volume of 147,441 shares.

Wall Street Analysts Forecast Growth

XMTR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a research note on Wednesday, August 26th. UBS Group upped their price target on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Xometry in a report on Tuesday, October 27th. Citigroup restated a “market outperform” rating on shares of Xometry in a research report on Monday, September 21st. Finally, Raymond James Financial set a $120.00 price objective on shares of Xometry in a research note on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Xometry presently has an average rating of “Moderate Buy” and an average price target of $113.18.

Xometry Price Performance

The firm’s 50-day moving average is $96.37 and its 200-day moving average is $76.22. The company has a market capitalization of $4.89 billion, a PE ratio of -157.44 and a beta of 1.23. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Xometry (NASDAQ:XMTR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The business had revenue of $252.44 million for the quarter, compared to the consensus estimate of $235.54 million. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Equities analysts predict that Xometry, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Randolph Altschuler sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 551,270 shares in the company, valued at approximately $50,066,341.40. The trade was a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 5,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $94.30, for a total transaction of $471,500.00. Following the completion of the sale, the director directly owned 35,345 shares of the company’s stock, valued at $3,333,033.50. This trade represents a 12.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 64,699 shares of company stock valued at $6,169,735. Insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

Several institutional investors have recently added to or reduced their stakes in XMTR. Abel Hall LLC increased its holdings in shares of Xometry by 5.2% in the third quarter. Abel Hall LLC now owns 2,246 shares of the company’s stock worth $231,000 after buying an additional 111 shares during the period. GAMMA Investing LLC lifted its stake in shares of Xometry by 36.5% in the 3rd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $99,000 after acquiring an additional 256 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Xometry by 9.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock valued at $194,000 after acquiring an additional 290 shares during the last quarter. Corient Private Wealth LP grew its position in Xometry by 1.6% during the 2nd quarter. Corient Private Wealth LP now owns 23,196 shares of the company’s stock worth $2,239,000 after acquiring an additional 360 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Xometry during the 2nd quarter worth approximately $36,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

About Xometry

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.