Xometry (NASDAQ:XMTR) Stock Price Down 5.9% – What’s Next?

Xometry, Inc. (NASDAQ:XMTR)’s stock price traded down 5.9% during mid-day trading on Monday . The company traded as low as $91.26 and last traded at $90.5820. Approximately 75,776 shares changed hands during trading, a decline of 92% from the average session volume of 921,329 shares. The stock had previously closed at $96.26.

Analyst Ratings Changes

Several brokerages have recently issued reports on XMTR. Wedbush initiated coverage on shares of Xometry in a report on Thursday, July 16th. They issued an “outperform” rating and a $126.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Citigroup boosted their price objective on shares of Xometry from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Xometry from $85.00 to $100.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald raised their target price on Xometry from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.88.

Xometry Price Performance

The stock has a market cap of $4.45 billion, a PE ratio of -143.25 and a beta of 1.30. The business has a fifty day simple moving average of $91.59 and a two-hundred day simple moving average of $69.85. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41.

Xometry (NASDAQ:XMTR) last released its earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The company had revenue of $229.28 million during the quarter, compared to analysts’ expectations of $215.22 million. During the same quarter last year, the business posted $0.09 EPS. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. Research analysts forecast that Xometry, Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Xometry

In related news, CTO Vaidyanathan Raghavan sold 1,866 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $93.21, for a total transaction of $173,929.86. Following the completion of the sale, the chief technology officer owned 140,777 shares in the company, valued at approximately $13,121,824.17. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Fabio Rosati sold 1,900 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $89.72, for a total value of $170,468.00. Following the completion of the transaction, the director directly owned 91,667 shares in the company, valued at approximately $8,224,363.24. This represents a 2.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 79,553 shares of company stock worth $7,130,468. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. purchased a new position in Xometry during the fourth quarter valued at $28,000. Quantbot Technologies LP bought a new position in shares of Xometry during the 3rd quarter valued at about $30,000. Leonteq Securities AG bought a new position in shares of Xometry during the 4th quarter valued at about $59,000. Comerica Bank grew its position in shares of Xometry by 17.9% during the third quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after purchasing an additional 173 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Xometry by 74.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company’s stock worth $67,000 after purchasing an additional 697 shares during the last quarter. Institutional investors own 97.31% of the company’s stock.

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.