Xometry (NASDAQ:XMTR) Shares Gap Up – Here’s What Happened

Xometry, Inc. (NASDAQ:XMTR)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $25.72, but opened at $26.96. Xometry shares last traded at $26.31, with a volume of 39,530 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and issued a $48.00 price target on shares of Xometry in a report on Friday, December 20th. JMP Securities restated a “market outperform” rating and issued a $42.00 price target on shares of Xometry in a report on Monday, February 10th. Citigroup reduced their price target on shares of Xometry from $46.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. UBS Group boosted their price objective on shares of Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald boosted their price objective on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.11.

Xometry Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -25.21 and a beta of 0.69. The stock’s 50 day simple moving average is $31.23 and its 200-day simple moving average is $28.83.

Insider Buying and Selling at Xometry

In other news, CFO James Miln sold 5,386 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $42.33, for a total value of $227,989.38. Following the sale, the chief financial officer now directly owns 102,329 shares of the company’s stock, valued at $4,331,586.57. This represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randolph Altschuler sold 27,566 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $26.60, for a total transaction of $733,255.60. Following the completion of the sale, the chief executive officer now directly owns 256,570 shares in the company, valued at $6,824,762. This trade represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,965 shares of company stock worth $2,050,643. 16.79% of the stock is owned by corporate insiders.

Institutional Trading of Xometry

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Xometry by 360.9% in the 3rd quarter. Barclays PLC now owns 68,951 shares of the company’s stock valued at $1,266,000 after acquiring an additional 53,991 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Xometry during the third quarter worth $1,586,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Xometry during the third quarter worth $355,000. Charles Schwab Investment Management Inc. boosted its holdings in Xometry by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 354,849 shares of the company’s stock worth $6,519,000 after buying an additional 16,396 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in Xometry during the third quarter worth $341,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.