Xometry (NASDAQ:XMTR) Stock Price Down 4.3% After Analyst Downgrade

Xometry, Inc. (NASDAQ:XMTR)’s stock price fell 4.3% on Tuesday after Royal Bank of Canada lowered their price target on the stock from $36.00 to $32.00. Royal Bank of Canada currently has a sector perform rating on the stock. Xometry traded as low as $25.60 and last traded at $25.64. 211,743 shares traded hands during trading, a decline of 65% from the average session volume of 607,402 shares. The stock had previously closed at $26.78.

Several other research firms also recently weighed in on XMTR. Cantor Fitzgerald upped their price target on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 26th. UBS Group increased their target price on Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Citigroup lowered their price target on Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $42.00 price objective on shares of Xometry in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Xometry from $45.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.56.

Insider Buying and Selling at Xometry

In other news, COO Peter Goguen sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $35.57, for a total transaction of $106,710.00. Following the transaction, the chief operating officer now owns 161,993 shares of the company’s stock, valued at approximately $5,762,091.01. The trade was a 1.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Miln sold 7,235 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $26.61, for a total transaction of $192,523.35. Following the sale, the chief financial officer now owns 131,090 shares of the company’s stock, valued at approximately $3,488,304.90. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,256 shares of company stock worth $2,012,889 in the last three months. 16.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in XMTR. Barclays PLC raised its position in Xometry by 360.9% in the third quarter. Barclays PLC now owns 68,951 shares of the company’s stock valued at $1,266,000 after purchasing an additional 53,991 shares during the period. Franklin Resources Inc. raised its holdings in Xometry by 32.9% in the 3rd quarter. Franklin Resources Inc. now owns 38,881 shares of the company’s stock valued at $731,000 after buying an additional 9,625 shares during the period. SG Americas Securities LLC lifted its position in Xometry by 67.5% in the fourth quarter. SG Americas Securities LLC now owns 13,938 shares of the company’s stock valued at $595,000 after buying an additional 5,616 shares during the last quarter. Caprock Group LLC acquired a new position in Xometry in the fourth quarter valued at about $274,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Xometry by 1.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 219,075 shares of the company’s stock worth $9,120,000 after buying an additional 2,375 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Xometry Trading Down 3.1 %

The business’s 50-day simple moving average is $24.51 and its two-hundred day simple moving average is $29.73. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -24.70 and a beta of 0.72.

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.