Xometry (NASDAQ:XMTR) Stock Breaks Above 50-Day Moving Average – What’s Next?

Xometry, Inc. (NASDAQ:XMTR)’s stock price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $95.32 and traded as high as $98.28. Xometry shares last traded at $97.14, with a volume of 599,926 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on XMTR. Citizens Jmp reiterated a “market outperform” rating and set a $120.00 price objective on shares of Xometry in a research report on Monday, September 21st. Rosenblatt Securities upped their target price on shares of Xometry from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. JPMorgan Chase & Co. started coverage on shares of Xometry in a report on Monday, August 24th. They issued an “overweight” rating and a $120.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Finally, UBS Group lifted their price target on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Eight 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.18.

Xometry Stock Up 7.9%

The stock has a fifty day moving average of $95.32 and a two-hundred day moving average of $75.55. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of -161.90 and a beta of 1.23.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $229.28 million for the quarter, compared to analyst estimates of $215.22 million. The business’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities research analysts anticipate that Xometry, Inc. will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Randolph Altschuler sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $90.82, for a total transaction of $908,200.00. Following the completion of the sale, the director owned 551,270 shares of the company’s stock, valued at approximately $50,066,341.40. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily Rollins sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 owned 15,136 shares in the company, valued at $1,276,116.16. The trade was a 24.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,699 shares of company stock worth $6,169,735. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Xometry by 26.9% during the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock worth $127,656,000 after buying an additional 280,491 shares during the period. Zevenbergen Capital Investments LLC increased its position in shares of Xometry by 115.1% in the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company’s stock worth $30,603,000 after acquiring an additional 159,227 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Xometry by 243.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock worth $29,015,000 after acquiring an additional 492,285 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Xometry by 31.3% in the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after acquiring an additional 127,637 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Xometry by 45.6% in the 1st quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock valued at $11,216,000 after acquiring an additional 85,989 shares during the period. 97.31% of the stock is owned by institutional investors and hedge funds.

Xometry Company Profile

Xometry, Inc (NASDAQ:XMTR) operates a technology-driven marketplace that connects businesses seeking custom parts with a network of manufacturing suppliers. Its platform uses automated pricing, manufacturability analysis and digital workflows to help customers source parts and manage production more efficiently.

The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other specialized production services.