Xometry (NASDAQ:XMTR) Trading Down 9.1% – Here’s Why

Xometry, Inc. (NASDAQ:XMTR) traded down 9.1% during trading on Thursday . The company traded as low as $90.64 and last traded at $89.5240. 306,744 shares changed hands during trading, a decline of 68% from the average daily volume of 944,793 shares. The stock had previously closed at $98.44.

Wall Street Analyst Weigh In

XMTR has been the subject of a number of recent analyst reports. Citigroup raised their price target on Xometry from $65.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Citizens Jmp boosted their price objective on Xometry from $75.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Royal Bank Of Canada increased their target price on Xometry from $55.00 to $85.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Xometry in a research note on Friday, May 29th. Finally, Wedbush initiated coverage on Xometry in a report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 price target for the company. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Xometry has an average rating of “Hold” and a consensus price target of $84.25.

Xometry Price Performance

The stock’s 50-day moving average price is $91.37 and its 200-day moving average price is $66.51. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -85.46 and a beta of 1.27. The company has a quick ratio of 1.76, a current ratio of 1.78 and a debt-to-equity ratio of 0.86.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The business had revenue of $205.14 million during the quarter, compared to analyst estimates of $188.46 million. During the same quarter last year, the business posted ($0.05) earnings per share. Xometry’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities research analysts anticipate that Xometry, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Xometry

In other news, Director Lukas Alexander Biewald bought 47,058 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average cost of $85.00 per share, with a total value of $3,999,930.00. Following the purchase, the director owned 55,134 shares of the company’s stock, valued at approximately $4,686,390. This represents a 582.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Subir Dutt sold 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.86, for a total value of $399,300.00. Following the sale, the insider owned 104,732 shares of the company’s stock, valued at approximately $8,363,897.52. The trade was a 4.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 80,496 shares of company stock worth $7,124,340. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

Several institutional investors and hedge funds have recently added to or reduced their stakes in XMTR. Kemnay Advisory Services Inc. acquired a new stake in shares of Xometry during the 4th quarter worth approximately $28,000. Quantbot Technologies LP acquired a new position in Xometry in the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its holdings in Xometry by 26.5% in the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after buying an additional 162 shares during the period. Leonteq Securities AG bought a new position in Xometry in the fourth quarter valued at approximately $59,000. Finally, CoreCap Advisors LLC bought a new position in Xometry in the second quarter valued at approximately $97,000. 97.31% of the stock is 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.