Xometry (NASDAQ:XMTR) Reaches New 52-Week High – Here’s What Happened

Xometry, Inc. (NASDAQ:XMTR)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $93.20 and last traded at $93.13, with a volume of 439551 shares traded. The stock had previously closed at $89.21.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Citizens Jmp boosted their target price on shares of Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Citigroup boosted their target price on shares of Xometry from $65.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. William Blair reiterated an “outperform” rating on shares of Xometry in a research note on Tuesday, February 24th. Finally, UBS Group boosted their target price on shares of Xometry from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Xometry Trading Up 3.8%

The firm’s 50-day moving average price is $54.78 and its 200-day moving average price is $57.16. The company has a quick ratio of 1.76, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. The company has a market cap of $4.80 billion, a P/E ratio of -90.82 and a beta of 1.01.

Xometry (NASDAQ:XMTR) last posted its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $205.14 million for the quarter, compared to analyst estimates of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. Xometry’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, equities research analysts expect that Xometry, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Xometry

In related news, President Sanjeev Singh Sahni sold 9,978 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $43.45, for a total value of $433,544.10. Following the transaction, the president directly owned 113,022 shares in the company, valued at approximately $4,910,805.90. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randolph Altschuler sold 50,000 shares of Xometry stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $87.85, for a total transaction of $4,392,500.00. Following the sale, the chief executive officer owned 455,248 shares of the company’s stock, valued at approximately $39,993,536.80. The trade was a 9.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 128,934 shares of company stock valued at $8,387,014 over the last 90 days. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XMTR. Ameriprise Financial Inc. increased its stake in Xometry by 54.2% in the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock valued at $107,029,000 after acquiring an additional 690,558 shares during the last quarter. First Trust Advisors LP lifted its stake in Xometry by 9.2% during the fourth quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock worth $93,729,000 after purchasing an additional 132,792 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Xometry by 1.6% in the 4th quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock worth $77,677,000 after purchasing an additional 20,901 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Xometry in the 4th quarter worth about $76,393,000. Finally, State Street Corp increased its position in shares of Xometry by 1.2% during the 4th quarter. State Street Corp now owns 978,540 shares of the company’s stock valued at $58,194,000 after purchasing an additional 11,272 shares during the last quarter. 97.31% of the stock is currently 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.