Xometry (NASDAQ:XMTR) Shares Down 8.1% – Here’s What Happened
by Renee Jackson · The Cerbat GemXometry, Inc. (NASDAQ:XMTR – Get Free Report) shares traded down 8.1% during mid-day trading on Thursday . The stock traded as low as $64.06 and last traded at $62.72. 511,537 shares traded hands during trading, a decline of 28% from the average session volume of 709,842 shares. The stock had previously closed at $68.25.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. JMP Securities set a $75.00 price target on shares of Xometry in a research note on Wednesday, November 5th. Citizens Jmp lifted their target price on shares of Xometry from $65.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Xometry in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Xometry in a research report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.89.
Read Our Latest Report on XMTR
Xometry Stock Down 8.8%
The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.58 and a current ratio of 3.62. The company’s 50-day moving average price is $60.17 and its 200 day moving average price is $49.77. The stock has a market capitalization of $3.19 billion, a P/E ratio of -49.72 and a beta of 0.86.
Xometry (NASDAQ:XMTR – Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $180.72 million during the quarter, compared to the consensus estimate of $168.25 million. Xometry had a negative net margin of 9.80% and a negative return on equity of 6.59%. Xometry’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, equities analysts expect that Xometry, Inc. will post -0.66 earnings per share for the current year.
Insider Activity at Xometry
In related news, insider Subir Dutt sold 3,929 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $65.55, for a total value of $257,545.95. Following the transaction, the insider directly owned 67,419 shares of the company’s stock, valued at approximately $4,419,315.45. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Miln sold 6,203 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $66.51, for a total value of $412,561.53. Following the completion of the transaction, the chief financial officer owned 134,397 shares of the company’s stock, valued at $8,938,744.47. The trade was a 4.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,246 shares of company stock worth $2,450,412 in the last three months. Corporate insiders own 9.66% of the company’s stock.
Institutional Trading of Xometry
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Xometry in the 3rd quarter worth about $30,000. Advisors Asset Management Inc. boosted its position in shares of Xometry by 68.3% during the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock valued at $34,000 after buying an additional 412 shares during the period. Westend Capital Management LLC bought a new position in shares of Xometry during the third quarter valued at approximately $41,000. GAMMA Investing LLC grew its stake in shares of Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after buying an additional 162 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Xometry in the third quarter worth approximately $47,000. 97.31% of the stock is currently 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.