Xometry (NASDAQ:XMTR) Sets New 52-Week High – Time to Buy?

Xometry, Inc. (NASDAQ:XMTR)’s stock price hit a new 52-week high on Monday . The company traded as high as $72.98 and last traded at $71.8530, with a volume of 364430 shares traded. The stock had previously closed at $66.03.

Analyst Upgrades and Downgrades

XMTR has been the subject of several research reports. Zacks Research downgraded shares of Xometry from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. JMP Securities set a $75.00 price objective on shares of Xometry in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Xometry in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.89.

Xometry Stock Performance

The company’s 50 day simple moving average is $62.53 and its 200 day simple moving average is $54.89. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.58 and a current ratio of 3.62. The stock has a market cap of $3.26 billion, a PE ratio of -50.89 and a beta of 0.86.

Insider Buying and Selling at Xometry

In related news, President Sanjeev Singh Sahni sold 26,190 shares of Xometry stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $65.47, for a total transaction of $1,714,659.30. Following the sale, the president directly owned 63,130 shares in the company, valued at approximately $4,133,121.10. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Subir Dutt sold 2,500 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the transaction, the insider owned 64,919 shares of the company’s stock, valued at $4,544,330. This trade represents a 3.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 65,936 shares of company stock valued at $4,338,197 in the last ninety days. 9.66% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its stake in Xometry by 2.1% in the fourth quarter. Deutsche Bank AG now owns 35,471 shares of the company’s stock valued at $2,109,000 after acquiring an additional 724 shares during the last quarter. Capital International Investors bought a new stake in shares of Xometry in the 4th quarter worth approximately $11,949,000. Los Angeles Capital Management LLC lifted its stake in Xometry by 33.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 18,039 shares of the company’s stock valued at $1,073,000 after purchasing an additional 4,514 shares during the last quarter. OneAscent Financial Services LLC bought a new position in Xometry during the fourth quarter valued at $254,000. Finally, TD Asset Management Inc purchased a new stake in Xometry in the fourth quarter worth $544,000. Institutional investors own 97.31% of the company’s stock.

Xometry Company Profile

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.