Xometry (NASDAQ:XMTR) Sets New 1-Year High – Here’s Why

Shares of Xometry, Inc. (NASDAQ:XMTR) reached a new 52-week high during trading on Monday . The stock traded as high as $72.98 and last traded at $71.8530, with a volume of 364430 shares changing hands. The stock had previously closed at $66.03.

Analyst Ratings Changes

XMTR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Citizens Jmp lifted their price target on shares of Xometry from $65.00 to $75.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th. Zacks Research lowered shares of Xometry from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Citigroup reaffirmed an “outperform” rating on shares of Xometry in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.89.

Xometry Stock Up 9.2%

The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -57.68 and a beta of 0.86. The firm’s 50 day moving average price is $61.81 and its two-hundred day moving average price is $54.29. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.62 and a quick ratio of 3.58.

Insider Buying and Selling at Xometry

In related news, President Sanjeev Singh Sahni sold 26,190 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $65.47, for a total value of $1,714,659.30. Following the completion of the sale, the president owned 63,130 shares in the company, valued at $4,133,121.10. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Randolph Altschuler sold 14,826 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $66.53, for a total value of $986,373.78. Following the transaction, the chief executive officer owned 295,445 shares in the company, valued at $19,655,955.85. The trade was a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 63,436 shares of company stock valued at $4,163,197. Insiders own 9.66% of the company’s stock.

Institutional Investors Weigh In On Xometry

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Xometry during the third quarter worth $30,000. Advisors Asset Management Inc. raised its holdings in Xometry by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock valued at $34,000 after acquiring an additional 412 shares during the last quarter. Westend Capital Management LLC acquired a new position in shares of Xometry during the 3rd quarter valued at about $41,000. GAMMA Investing LLC increased its holdings in shares of Xometry by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after buying an additional 162 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Xometry in the third quarter valued at approximately $47,000. 97.31% of the stock is currently 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.