Wedbush Reaffirms Outperform Rating for Xometry (NASDAQ:XMTR)

Xometry (NASDAQ:XMTR)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $48.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 15.19% from the stock’s previous close.

A number of other analysts have also commented on the stock. Craig Hallum upped 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, November 6th. Royal Bank of Canada raised 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. Cantor Fitzgerald reissued an “underweight” rating and set a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of Xometry in a research report on Monday, December 16th. Finally, The Goldman Sachs Group lifted their price target on Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Xometry currently has an average rating of “Moderate Buy” and an average target price of $31.89.

Xometry Trading Up 13.9 %

Xometry stock opened at $41.67 on Friday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -39.69 and a beta of 0.83. Xometry has a 1 year low of $11.08 and a 1 year high of $42.00. The firm’s 50 day moving average price is $28.45 and its two-hundred day moving average price is $20.22. 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 Transactions at Xometry

In other Xometry news, COO Peter Goguen sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $32.00, for a total value of $160,000.00. Following the sale, the chief operating officer now owns 175,419 shares of the company’s stock, valued at $5,613,408. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Emily Rollins sold 3,729 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $367,356.93. The trade was a 23.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,219 shares of company stock worth $1,178,519. 16.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XMTR. Bank of New York Mellon Corp boosted its stake in Xometry by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,522 shares of the company’s stock valued at $1,624,000 after buying an additional 25,247 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company’s stock valued at $3,063,000 after purchasing an additional 113,478 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Xometry in the 2nd quarter worth about $330,000. Commonwealth Equity Services LLC increased its position in shares of Xometry by 66.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 25,403 shares of the company’s stock worth $294,000 after purchasing an additional 10,103 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Xometry during the 2nd quarter worth about $38,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.