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

Shares of Xometry, Inc. (NASDAQ:XMTR) gapped up before the market opened on Tuesday . The stock had previously closed at $61.51, but opened at $64.17. Xometry shares last traded at $63.5650, with a volume of 12,851 shares traded.

Wall Street Analysts Forecast Growth

XMTR has been the subject of several research reports. The Goldman Sachs Group boosted their price target on Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Citigroup reaffirmed an “outperform” rating on shares of Xometry in a research note on Wednesday, November 5th. Cantor Fitzgerald increased their price target on shares of Xometry from $41.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Wedbush increased their price target on Xometry from $48.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Xometry has an average rating of “Hold” and an average price target of $57.89.

Xometry Stock Performance

The company has a market cap of $3.24 billion, a PE ratio of -50.56 and a beta of 0.86. 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’s 50-day simple moving average is $56.53 and its 200 day simple moving average is $47.26.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Xometry had a negative net margin of 9.80% and a negative return on equity of 6.59%. The firm had revenue of $180.72 million for the quarter, compared to the consensus estimate of $168.25 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. As a group, equities analysts anticipate that Xometry, Inc. will post -0.66 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Randolph Altschuler sold 9,331 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $50.31, for a total transaction of $469,442.61. Following the completion of the sale, the chief executive officer directly owned 310,271 shares in the company, valued at $15,609,734.01. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Miln sold 599 shares of Xometry stock in a transaction on Friday, November 7th. The stock was sold at an average price of $62.11, for a total transaction of $37,203.89. Following the completion of the sale, the chief financial officer owned 141,796 shares of the company’s stock, valued at approximately $8,806,949.56. This trade represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,005 shares of company stock worth $631,147 over the last three months. 9.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Xometry in the third quarter worth $30,000. Westend Capital Management LLC acquired a new position in shares of Xometry in the 3rd quarter valued at $41,000. Global Retirement Partners LLC purchased a new position in shares of Xometry in the third quarter worth approximately $47,000. Advisors Asset Management Inc. grew its position in Xometry by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock worth $34,000 after purchasing an additional 412 shares in the last quarter. Finally, Comerica Bank lifted its stake in Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after acquiring an additional 173 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.

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.