Xometry (NASDAQ:XMTR) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Xometry (NASDAQ:XMTRFree Report) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm currently has $45.00 price target on the stock, up from their previous price target of $25.00.

Several other brokerages also recently weighed in on XMTR. JMP Securities reissued a “market outperform” rating and issued a $42.00 price target on shares of Xometry in a report on Monday, December 16th. The Goldman Sachs Group lifted their target price on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reissued an “underweight” rating and set a $12.00 target price on shares of Xometry in a research report on Wednesday, November 6th. Craig Hallum raised their price target on shares of Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Xometry from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Xometry has a consensus rating of “Moderate Buy” and a consensus target price of $31.89.

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Xometry Stock Up 13.9 %

Xometry stock opened at $41.67 on Wednesday. Xometry has a 1-year low of $11.08 and a 1-year high of $42.00. The business has a fifty day moving average price of $28.45 and a 200-day moving average price of $20.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -39.69 and a beta of 0.83.

Insider Activity at Xometry

In related news, COO Peter Goguen sold 986 shares of Xometry stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total transaction of $39,518.88. Following the completion of the transaction, the chief operating officer now directly owns 168,933 shares in the company, valued at approximately $6,770,834.64. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Matthew Leibel sold 16,564 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total value of $498,245.12. Following the completion of the sale, the chief technology officer now owns 77,856 shares in the company, valued at approximately $2,341,908.48. This represents a 17.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,219 shares of company stock worth $1,178,519 over the last three months. Company insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in shares of Xometry by 1.7% during the 3rd quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company’s stock worth $127,088,000 after acquiring an additional 113,264 shares in the last quarter. FMR LLC raised its holdings in Xometry by 40.2% in the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock worth $74,921,000 after purchasing an additional 1,169,778 shares during the period. Fred Alger Management LLC raised its holdings in Xometry by 20.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock worth $33,354,000 after purchasing an additional 312,971 shares during the period. Sylebra Capital LLC boosted its position in Xometry by 19.1% during the third quarter. Sylebra Capital LLC now owns 1,796,867 shares of the company’s stock worth $33,008,000 after purchasing an additional 288,151 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Xometry by 4.3% in the third quarter. Geode Capital Management LLC now owns 995,478 shares of the company’s stock valued at $18,291,000 after purchasing an additional 41,341 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Xometry

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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.

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Analyst Recommendations for Xometry (NASDAQ:XMTR)

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