Xometry (NASDAQ:XMTR) Reaches New 52-Week High – Here’s What Happened

Shares of Xometry, Inc. (NASDAQ:XMTR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $93.20 and last traded at $93.13, with a volume of 439551 shares trading hands. The stock had previously closed at $89.21.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $78.00 price target on shares of Xometry in a research note on Friday, May 8th. Wedbush dropped their price target on shares of Xometry from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Citigroup raised their price target on shares of Xometry from $65.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada raised their price target on shares of Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of Xometry from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Six equities research 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’s stock. According to data from MarketBeat, Xometry presently has an average rating of “Hold” and an average price target of $76.00.

Xometry Trading Up 3.8%

The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -90.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.76. The firm’s fifty day moving average is $54.78 and its 200-day moving average is $57.16.

Xometry (NASDAQ:XMTR) last released its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $205.14 million for the quarter, compared to analyst estimates of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. Xometry’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Equities analysts anticipate that Xometry, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Xometry

In other news, CEO Randolph Altschuler sold 50,000 shares of Xometry stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $87.85, for a total transaction of $4,392,500.00. Following the completion of the transaction, the chief executive officer directly owned 455,248 shares in the company, valued at $39,993,536.80. This trade represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Subir Dutt sold 4,943 shares of Xometry stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $89.20, for a total transaction of $440,915.60. Following the transaction, the insider owned 97,289 shares of the company’s stock, valued at $8,678,178.80. This represents a 4.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 128,934 shares of company stock valued at $8,387,014. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in Xometry during the fourth quarter worth about $28,000. Quantbot Technologies LP purchased a new position in Xometry during the third quarter worth about $30,000. GAMMA Investing LLC boosted its holdings in Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after purchasing an additional 162 shares during the last quarter. Leonteq Securities AG purchased a new position in Xometry during the fourth quarter worth about $59,000. Finally, Comerica Bank boosted its holdings in Xometry by 17.9% during the third quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after purchasing an additional 173 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.