Xometry (NASDAQ:XMTR) Shares Down 5.9% – Should You Sell?

Shares of Xometry, Inc. (NASDAQ:XMTR) traded down 5.9% during trading on Tuesday . The stock traded as low as $41.39 and last traded at $41.2230. 372,727 shares were traded during trading, a decline of 65% from the average session volume of 1,076,237 shares. The stock had previously closed at $43.82.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XMTR. Wedbush lowered their price objective on shares of Xometry from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Zacks Research raised shares of Xometry from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Royal Bank Of Canada cut their price objective on shares of Xometry from $64.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a research note on Wednesday, January 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of Xometry in a research report on Tuesday, February 24th. Five equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.00.

Xometry Stock Performance

The company’s fifty day simple moving average is $57.37 and its two-hundred day simple moving average is $55.85. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -30.52 and a beta of 0.90. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.72 and a current ratio of 3.76.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $183.37 million. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. Equities research analysts predict that Xometry, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Vaidyanathan Raghavan sold 4,572 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $43.44, for a total value of $198,607.68. Following the completion of the sale, the chief technology officer directly owned 64,304 shares in the company, valued at approximately $2,793,365.76. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subir Dutt sold 3,929 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $65.55, for a total value of $257,545.95. Following the sale, the insider directly owned 67,419 shares in the company, valued at approximately $4,419,315.45. This represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 127,852 shares of company stock worth $6,993,940. 9.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. bought a new stake in shares of Xometry during the 4th quarter valued at about $15,938,000. Fuller & Thaler Asset Management Inc. bought a new position in Xometry in the fourth quarter worth about $76,393,000. XTX Topco Ltd bought a new position in Xometry in the fourth quarter worth about $1,440,000. Numerai GP LLC boosted its stake in Xometry by 24.7% in the fourth quarter. Numerai GP LLC now owns 7,510 shares of the company’s stock valued at $447,000 after acquiring an additional 1,487 shares during the period. Finally, Odyssean LLC bought a new position in shares of Xometry during the fourth quarter valued at approximately $663,000. 97.31% of the stock is owned by institutional investors and hedge funds.

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.