Zacks Research Upgrades Xometry (NASDAQ:XMTR) to “Hold”

Xometry (NASDAQ:XMTR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wedbush cut their price objective on Xometry from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Citizens Jmp set a $75.00 target price on Xometry in a research note on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on Xometry from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Citigroup decreased their price objective on Xometry from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xometry presently has an average rating of “Hold” and a consensus target price of $62.00.

Xometry Stock Down 1.7%

Shares of Xometry stock opened at $41.26 on Monday. The company has a current ratio of 3.76, a quick ratio of 3.72 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $59.76 and its two-hundred day simple moving average is $56.06. The company has a market cap of $2.11 billion, a P/E ratio of -33.82 and a beta of 0.90. Xometry has a 12-month low of $18.59 and a 12-month high of $73.87.

Xometry (NASDAQ:XMTR) last announced its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The firm had revenue of $192.40 million for the quarter, compared to analyst estimates of $183.37 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. Research analysts anticipate that Xometry will post -0.66 EPS for the current year.

Insider Activity at Xometry

In other news, insider Subir Dutt sold 3,929 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $65.55, for a total transaction of $257,545.95. Following the completion of the transaction, the insider directly owned 67,419 shares in the company, valued at $4,419,315.45. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Randolph Altschuler sold 31,928 shares of Xometry stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $43.44, for a total value of $1,386,952.32. Following the completion of the transaction, the chief executive officer directly owned 372,377 shares of the company’s stock, valued at approximately $16,176,056.88. This represents a 7.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 127,852 shares of company stock worth $6,993,940 over the last quarter. 9.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Xometry during the fourth quarter valued at approximately $28,000. Quantbot Technologies LP purchased a new position in Xometry in the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its position in Xometry by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock valued at $34,000 after acquiring an additional 412 shares in the last quarter. Westend Capital Management LLC purchased a new stake in Xometry during the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC boosted its stake in Xometry by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after purchasing an additional 162 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.