Xometry (NASDAQ:XMTR) Shares Gap Down – Here’s Why

Xometry, Inc. (NASDAQ:XMTR) gapped down prior to trading on Tuesday . The stock had previously closed at $57.15, but opened at $52.10. Xometry shares last traded at $45.9250, with a volume of 965,263 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup restated an “outperform” rating on shares of Xometry in a report on Wednesday, November 5th. The Goldman Sachs Group raised their price target on Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Wedbush upped their price target on shares of Xometry from $48.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Xometry from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Xometry has an average rating of “Hold” and a consensus target price of $55.75.

Xometry Stock Down 22.3%

The stock’s 50-day moving average price is $62.02 and its two-hundred day moving average price is $56.19. The company has a current ratio of 3.62, a quick ratio of 3.58 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.28 billion, a P/E ratio of -35.85 and a beta of 0.86.

Insider Buying and Selling at Xometry

In related news, CFO James Miln sold 599 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $58.98, for a total transaction of $35,329.02. Following the sale, the chief financial officer owned 133,798 shares of the company’s stock, valued at $7,891,406.04. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Sanjeev Singh Sahni sold 26,190 shares of Xometry stock in a transaction that occurred on 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 sale, the president directly owned 63,130 shares in the company, valued at $4,133,121.10. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 63,861 shares of company stock worth $4,213,697. Insiders own 9.66% of the company’s stock.

Institutional Trading of Xometry

Several institutional investors and hedge funds have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. acquired a new stake in Xometry during the fourth quarter worth about $28,000. Quantbot Technologies LP purchased a new stake in shares of Xometry in the third quarter valued at approximately $30,000. Westend Capital Management LLC purchased a new position in Xometry in the 3rd quarter valued at approximately $41,000. GAMMA Investing LLC raised its stake in Xometry by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after acquiring an additional 162 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Xometry in the third quarter valued at $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.