Xometry (NASDAQ:XMTR) Shares Gap Up – Here’s What Happened

Xometry, Inc. (NASDAQ:XMTR) gapped up prior to trading on Monday . The stock had previously closed at $25.72, but opened at $26.96. Xometry shares last traded at $26.31, with a volume of 39,530 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on XMTR. Cantor Fitzgerald increased their price target on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. UBS Group raised their target price on Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and upped their price target for the company from $25.00 to $45.00 in a research report on Wednesday, December 18th. Citigroup cut their price objective on Xometry from $46.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Xometry in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Xometry Stock Performance

The stock has a 50 day moving average price of $30.99 and a two-hundred day moving average price of $28.95. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -25.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55.

Insiders Place Their Bets

In other news, CFO James Miln sold 25,852 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.06, for a total transaction of $621,999.12. Following the completion of the sale, the chief financial officer now owns 105,238 shares in the company, valued at $2,532,026.28. The trade was a 19.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Randolph Altschuler sold 27,566 shares of Xometry stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $26.60, for a total value of $733,255.60. Following the completion of the sale, the chief executive officer now owns 256,570 shares of the company’s stock, valued at approximately $6,824,762. The trade was a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,965 shares of company stock valued at $2,050,643. Insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

A number of hedge funds and other institutional investors have recently bought and sold shares of XMTR. Summit Investment Advisors Inc. raised its position in shares of Xometry by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company’s stock valued at $190,000 after acquiring an additional 333 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Xometry in the fourth quarter valued at about $27,000. State of Wyoming lifted its stake in Xometry by 8.2% in the fourth quarter. State of Wyoming now owns 8,876 shares of the company’s stock valued at $379,000 after buying an additional 676 shares during the period. Comerica Bank boosted its holdings in Xometry by 195.1% during the fourth quarter. Comerica Bank now owns 1,133 shares of the company’s stock worth $48,000 after buying an additional 749 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Xometry by 7.9% during the 4th quarter. Arizona State Retirement System now owns 12,180 shares of the company’s stock worth $520,000 after buying an additional 891 shares during the period. 97.31% of the stock is owned by institutional investors.

Xometry Company Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.