Xometry (NASDAQ:XMTR) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Xometry, Inc. (NASDAQ:XMTR) hit a new 52-week low on Wednesday 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 $24.65 and last traded at $25.64, with a volume of 665137 shares trading hands. The stock had previously closed at $25.94.

Several other research analysts have also commented on XMTR. JPMorgan Chase & Co. reduced their price objective on shares of Xometry from $45.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Citigroup decreased their price objective on 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 target price on Xometry from $22.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald increased their price target on Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, February 26th. Finally, JMP Securities restated a “market outperform” rating and set a $42.00 price target on shares of Xometry in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Xometry presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

Insider Activity

In other Xometry news, CFO James Miln sold 25,852 shares of Xometry stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.06, for a total transaction of $621,999.12. Following the completion of the transaction, the chief financial officer now owns 105,238 shares in the company, valued at approximately $2,532,026.28. This trade represents a 19.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Randolph Altschuler sold 27,566 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $26.60, for a total value of $733,255.60. Following the completion of the sale, the chief executive officer now owns 256,570 shares in the company, valued at $6,824,762. The trade was a 9.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,256 shares of company stock valued at $2,012,889. Company insiders own 16.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in Xometry by 2,144.2% in the fourth quarter. First Trust Advisors LP now owns 817,475 shares of the company’s stock valued at $34,873,000 after buying an additional 781,049 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Xometry in the 4th quarter valued at about $30,297,000. Ameriprise Financial Inc. increased its stake in shares of Xometry by 225.7% in the 4th quarter. Ameriprise Financial Inc. now owns 852,813 shares of the company’s stock valued at $36,381,000 after purchasing an additional 590,974 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Xometry in the 4th quarter worth about $17,623,000. Finally, Driehaus Capital Management LLC acquired a new stake in Xometry in the fourth quarter valued at approximately $16,551,000. 97.31% of the stock is owned by institutional investors and hedge funds.

Xometry Stock Performance

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 company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -24.88 and a beta of 0.72. The firm has a fifty day simple moving average of $24.27 and a 200 day simple moving average of $29.75.

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.