Xometry (NASDAQ:XMTR) Stock Price Down 4.1% – Here’s Why

Xometry, Inc. (NASDAQ:XMTR)’s share price fell 4.1% during mid-day trading on Wednesday . The stock traded as low as $60.59 and last traded at $60.5640. 222,770 shares changed hands during trading, a decline of 69% from the average session volume of 720,394 shares. The stock had previously closed at $63.14.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush increased their price target on Xometry from $48.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Citizens Jmp upped their target price on Xometry from $65.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group raised their target price on Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Citigroup reissued an “outperform” rating on shares of Xometry in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Xometry currently has a consensus rating of “Hold” and an average price target of $57.89.

Xometry Trading Down 5.8%

The stock has a market cap of $3.05 billion, a PE ratio of -47.58 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.58 and a current ratio of 3.62. The company has a 50 day moving average of $58.84 and a two-hundred day moving average of $48.68.

Xometry (NASDAQ:XMTR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $180.72 million for the quarter, compared to analyst estimates of $168.25 million. Xometry had a negative return on equity of 6.59% and a negative net margin of 9.80%.Xometry’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. Sell-side analysts anticipate that Xometry, Inc. will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Subir Dutt sold 2,075 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $60.00, for a total transaction of $124,500.00. Following the completion of the transaction, the insider owned 71,348 shares in the company, valued at $4,280,880. This represents a 2.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Miln sold 599 shares of Xometry stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $62.11, for a total value of $37,203.89. Following the completion of the sale, the chief financial officer owned 141,796 shares in the company, valued at approximately $8,806,949.56. The trade was a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Xometry

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC lifted its holdings in Xometry by 9.6% in the 2nd quarter. Sylebra Capital LLC now owns 2,062,157 shares of the company’s stock valued at $69,680,000 after purchasing an additional 180,533 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Xometry by 54.2% in the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock valued at $107,029,000 after buying an additional 690,558 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Xometry by 12.8% in the third quarter. First Trust Advisors LP now owns 1,443,283 shares of the company’s stock worth $78,616,000 after buying an additional 164,278 shares in the last quarter. Geode Capital Management LLC boosted its position in Xometry by 0.9% during the second quarter. Geode Capital Management LLC now owns 1,084,117 shares of the company’s stock worth $36,637,000 after acquiring an additional 9,360 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Xometry by 1.0% during the second quarter. New York State Common Retirement Fund now owns 951,142 shares of the company’s stock worth $32,139,000 after acquiring an additional 9,054 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.