Xometry (NASDAQ:XMTR) Sets New 52-Week High – Here’s Why

Shares of Xometry, Inc. (NASDAQ:XMTR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.99 and last traded at $45.99, with a volume of 1256 shares changing hands. The stock had previously closed at $43.88.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cantor Fitzgerald reissued an “underweight” rating and issued a $12.00 price target on shares of Xometry in a research report on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $48.00 target price on shares of Xometry in a report on Friday, December 20th. JMP Securities restated a “market outperform” rating and set a $42.00 price target on shares of Xometry in a report on Monday, December 16th. JPMorgan Chase & Co. upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $45.00 in a research note on Wednesday, December 18th. Finally, Citigroup raised their price objective on shares of Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.89.

Xometry Stock Performance

The business’s fifty day moving average price is $31.72 and its 200-day moving average price is $21.76. The stock has a market cap of $2.11 billion, a PE ratio of -40.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59.

Insider Buying and Selling

In other news, Director Emily Rollins sold 3,729 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.49, for a total transaction of $109,968.21. Following the completion of the sale, the director now owns 12,457 shares of the company’s stock, valued at $367,356.93. This represents a 23.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Goguen sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.55, for a total transaction of $354,600.00. Following the completion of the transaction, the chief operating officer now owns 180,419 shares in the company, valued at $5,331,381.45. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,279 shares of company stock worth $1,162,332. 16.79% of the stock is owned by insiders.

Institutional Trading of Xometry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Xometry during the 2nd quarter valued at $38,000. ProShare Advisors LLC bought a new stake in Xometry during the second quarter valued at about $53,000. Point72 Asset Management L.P. purchased a new stake in Xometry in the second quarter worth about $55,000. US Bancorp DE increased its position in Xometry by 57.7% in the third quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after buying an additional 2,037 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Xometry in the second quarter worth about $129,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

About Xometry

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.