Xometry (NASDAQ:XMTR) Shares Gap Up on Better-Than-Expected Earnings

Xometry, Inc. (NASDAQ:XMTR) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.06, but opened at $23.12. Xometry shares last traded at $22.10, with a volume of 96,692 shares changing hands.

The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Xometry had a negative net margin of 10.53% and a negative return on equity of 10.75%. The company had revenue of $141.70 million during the quarter, compared to the consensus estimate of $137.17 million.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Cantor Fitzgerald restated an “underweight” rating and set a $12.00 price objective on shares of Xometry in a research report on Wednesday. The Goldman Sachs Group boosted their price target on Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup boosted their price target on Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Craig Hallum boosted their price objective on shares of Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.29.

Insider Buying and Selling at Xometry

In other news, CTO Matthew Leibel sold 3,400 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $18.45, for a total value of $62,730.00. Following the sale, the chief technology officer now owns 82,918 shares in the company, valued at approximately $1,529,837.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xometry

A number of institutional investors have recently modified their holdings of XMTR. Primecap Management Co. CA raised its stake in Xometry by 1.4% during the second quarter. Primecap Management Co. CA now owns 6,804,988 shares of the company’s stock worth $78,666,000 after acquiring an additional 93,350 shares during the period. Vanguard Group Inc. grew its position in Xometry by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,877,346 shares of the company’s stock worth $65,488,000 after purchasing an additional 76,976 shares during the last quarter. Sylebra Capital LLC grew its position in Xometry by 134.2% in the 2nd quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company’s stock worth $17,441,000 after purchasing an additional 864,454 shares during the last quarter. Clearbridge Investments LLC grew its position in Xometry by 20.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company’s stock worth $21,461,000 after purchasing an additional 217,939 shares during the last quarter. Finally, Bellecapital International Ltd. bought a new position in Xometry in the 2nd quarter worth about $6,281,000. Institutional investors and hedge funds own 97.31% of the company’s stock.

Xometry Stock Up 18.5 %

The firm’s fifty day moving average price is $19.35 and its 200-day moving average price is $16.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.64 and a quick ratio of 4.60. The firm has a market capitalization of $1.51 billion, a P/E ratio of -28.09 and a beta of 0.55.

Xometry Company Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.