Xometry (NASDAQ:XMTR) Shares Gap Up – Here’s Why

Xometry, Inc. (NASDAQ:XMTR) gapped up before the market opened on Tuesday . The stock had previously closed at $22.06, but opened at $23.12. Xometry shares last traded at $22.10, with a volume of 96,692 shares changing hands.

Wall Street Analyst Weigh In

XMTR has been the topic of a number of recent research reports. Cantor Fitzgerald cut their target price on Xometry from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. JMP Securities raised their price objective on shares of Xometry from $27.00 to $32.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.86.

Xometry Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.60 and a current ratio of 4.64. The stock has a market cap of $1.28 billion, a PE ratio of -24.11 and a beta of 0.55. The business has a 50 day moving average price of $19.03 and a two-hundred day moving average price of $16.48.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. The firm had revenue of $132.60 million during the quarter, compared to the consensus estimate of $128.65 million. Xometry had a negative return on equity of 10.75% and a negative net margin of 10.53%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.55) EPS. Research analysts expect that Xometry, Inc. will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Matthew Leibel sold 3,400 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $18.45, for a total transaction of $62,730.00. Following the completion of the transaction, the chief technology officer now directly owns 82,918 shares of the company’s stock, valued at $1,529,837.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sylebra Capital LLC lifted its holdings in Xometry by 134.2% during the second quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company’s stock valued at $17,441,000 after purchasing an additional 864,454 shares during the last quarter. Bellecapital International Ltd. purchased a new stake in shares of Xometry during the 2nd quarter valued at approximately $6,281,000. Clearbridge Investments LLC boosted its holdings in Xometry by 20.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,270,631 shares of the company’s stock worth $21,461,000 after buying an additional 217,939 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Xometry in the 2nd quarter valued at approximately $2,013,000. Finally, Squarepoint Ops LLC raised its holdings in Xometry by 227.7% during the 2nd quarter. Squarepoint Ops LLC now owns 249,025 shares of the company’s stock valued at $2,879,000 after acquiring an additional 173,042 shares during the period. Institutional investors own 97.31% of the company’s stock.

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.