Xometry (NASDAQ:XMTR) Trading 9.8% Higher – Should You Buy?

Shares of Xometry, Inc. (NASDAQ:XMTR) shot up 9.8% during mid-day trading on Thursday . The stock traded as high as $95.56 and last traded at $96.7250. 147,378 shares were traded during trading, a decline of 84% from the average daily volume of 902,571 shares. The stock had previously closed at $88.08.

Analysts Set New Price Targets

XMTR has been the topic of several recent research reports. Cantor Fitzgerald lifted their price target on Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xometry in a research report on Friday, May 29th. Wedbush assumed coverage on shares of Xometry in a research note on Thursday, July 16th. They set an “outperform” rating and a $126.00 price target for the company. The Goldman Sachs Group increased their target price on shares of Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. started coverage on shares of Xometry in a research note on Monday. They issued an “overweight” rating and a $120.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.33.

Xometry Stock Performance

The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average is $91.48 and its two-hundred day moving average is $70.92. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -164.36 and a beta of 1.29.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (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 period last year, the firm posted $0.09 earnings per share. The business’s revenue was up 41.1% on a year-over-year basis. On average, analysts predict that Xometry, Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Xometry

In related news, CFO James Miln sold 2,392 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $93.29, for a total transaction of $223,149.68. Following the sale, the chief financial officer owned 179,131 shares in the company, valued at $16,711,130.99. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Emily Rollins sold 5,000 shares of Xometry stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.31, for a total value of $421,550.00. Following the transaction, the director directly owned 15,136 shares in the company, valued at $1,276,116.16. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,053 shares of company stock valued at $2,922,018. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xometry

Several hedge funds and other institutional investors have recently bought and sold shares of XMTR. Kemnay Advisory Services Inc. bought a new stake in shares of Xometry during the fourth quarter worth about $28,000. Quantbot Technologies LP acquired a new position in Xometry during the 3rd quarter valued at about $30,000. Leonteq Securities AG acquired a new position in Xometry during the 4th quarter valued at about $59,000. CoreCap Advisors LLC bought a new stake in Xometry during the 2nd quarter worth approximately $97,000. Finally, Nykredit A S bought a new stake in Xometry during the 2nd quarter worth approximately $103,000. 97.31% of the stock is owned by institutional investors.

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.