Xometry (NASDAQ:XMTR) Price Target Lowered to $30.00 at JPMorgan Chase & Co.

Xometry (NASDAQ:XMTR) had its target price dropped by analysts at JPMorgan Chase & Co. from $45.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 23.66% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $42.00 price target on shares of Xometry in a research report on Monday, February 10th. Royal Bank of Canada increased their price objective on shares of Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald boosted their price target on Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. UBS Group lifted their price target on shares of Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup lowered their price target on Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.44.

Xometry Price Performance

Shares of Xometry stock traded up $2.08 on Tuesday, hitting $24.26. 153,090 shares of the company traded hands, compared to its average volume of 603,661. The firm’s 50-day simple moving average is $25.98 and its 200 day simple moving average is $29.50. Xometry has a 12-month low of $11.08 and a 12-month high of $45.33. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.22 billion, a P/E ratio of -23.08 and a beta of 0.72.

Insiders Place Their Bets

In other Xometry news, Director Emily Rollins sold 2,000 shares of Xometry stock in a transaction on Monday, April 7th. The shares were sold at an average price of $20.66, for a total transaction of $41,320.00. Following the completion of the transaction, the director now directly owns 16,146 shares of the company’s stock, valued at $333,576.36. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Randolph Altschuler sold 27,566 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $26.60, for a total transaction of $733,255.60. Following the completion of the sale, the chief executive officer now owns 256,570 shares in the company, valued at $6,824,762. This represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,256 shares of company stock worth $2,012,889 in the last three months. 16.79% of the stock is owned by company insiders.

Institutional Trading of Xometry

Several institutional investors and hedge funds have recently bought and sold shares of XMTR. Vanguard Group Inc. raised its stake in shares of Xometry by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company’s stock worth $183,151,000 after buying an additional 86,997 shares during the period. Sylebra Capital LLC raised its position in Xometry by 2.1% during the fourth quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock worth $78,270,000 after acquiring an additional 37,883 shares during the period. Geode Capital Management LLC lifted its holdings in Xometry by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company’s stock valued at $42,861,000 after purchasing an additional 8,974 shares in the last quarter. State Street Corp grew its position in shares of Xometry by 0.3% in the third quarter. State Street Corp now owns 887,139 shares of the company’s stock valued at $16,297,000 after purchasing an additional 3,027 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Xometry by 225.7% during the fourth quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock worth $36,381,000 after purchasing an additional 590,974 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

About Xometry

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.