Xometry (NASDAQ:XMTR) Stock Price Up 6.2% – What’s Next?

Xometry, Inc. (NASDAQ:XMTR)’s share price traded up 6.2% during mid-day trading on Wednesday . The stock traded as high as $92.00 and last traded at $93.00. 239,423 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 878,804 shares. The stock had previously closed at $87.58.

Analysts Set New Price Targets

A number of research firms have issued reports on XMTR. Cantor Fitzgerald upped their target price on shares of Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wedbush began coverage on shares of Xometry in a research note on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price objective on the stock. UBS Group lifted their target price on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Citigroup increased their target price on shares of Xometry from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. initiated coverage on Xometry in a research report on Monday, August 24th. They issued an “overweight” rating and a $120.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.33.

Xometry Stock Performance

The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $74.15. The stock has a market capitalization of $4.80 billion, a P/E ratio of -154.42 and a beta of 1.32.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS 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 during the quarter, compared to the consensus estimate of $215.22 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 41.1% on a year-over-year basis. On average, equities analysts forecast that Xometry, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In other Xometry news, Director Fabio Rosati sold 8,100 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $91.45, for a total value of $740,745.00. Following the transaction, the director directly owned 93,567 shares in the company, valued at $8,556,702.15. The trade was a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Emily Rollins sold 5,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $84.31, for a total transaction of $421,550.00. Following the completion of the transaction, the director directly owned 15,136 shares in the company, valued at $1,276,116.16. The trade was a 24.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,553 shares of company stock valued at $5,116,368. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xometry

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of Xometry during the second quarter worth approximately $247,000. IPG Investment Advisors LLC bought a new position in Xometry during the 2nd quarter worth $241,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Xometry during the second quarter worth $36,000. Nykredit A S bought a new stake in shares of Xometry in the second quarter valued at about $103,000. Finally, Corient Private Wealth LP grew its stake in shares of Xometry by 1.6% in the second quarter. Corient Private Wealth LP now owns 23,196 shares of the company’s stock valued at $2,239,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Xometry Company Profile

Xometry, Inc operates a digital marketplace that connects businesses with manufacturing suppliers. Its platform uses software and data-driven tools to help customers obtain quotes, place orders and manage production for custom parts and products.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet-metal fabrication, injection molding and urethane casting. Its services are used for prototyping and production across industries such as aerospace, automotive, industrial equipment, consumer products and healthcare.

Founded in 2013, Xometry has expanded its marketplace and related technology offerings through organic development and acquisitions, including the 2021 acquisition of Thomas, a digital industrial sourcing and marketing business.