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

Xometry, Inc. (NASDAQ:XMTR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $32.18, but opened at $30.08. Xometry shares last traded at $31.40, with a volume of 62,391 shares traded.

Analysts Set New Price Targets

Several analysts have commented on XMTR shares. The Goldman Sachs Group raised their target price on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities upped their price objective on shares of Xometry from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Friday, October 18th. Craig Hallum upped their price objective on 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 report on Wednesday, November 6th. Finally, Citigroup raised their price objective on Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Xometry currently has an average rating of “Hold” and a consensus price target of $26.29.

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 4.60. The business has a 50-day simple moving average of $20.02 and a 200 day simple moving average of $16.95. The firm has a market cap of $1.56 billion, a PE ratio of -30.65 and a beta of 0.55.

Insider Transactions at Xometry

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

Institutional Trading of Xometry

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Xometry by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 354,849 shares of the company’s stock valued at $6,519,000 after purchasing an additional 16,396 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Xometry by 1.7% in the third quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company’s stock valued at $127,088,000 after acquiring an additional 113,264 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Xometry in the third quarter valued at approximately $205,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Xometry during the third quarter valued at approximately $355,000. Finally, GSA Capital Partners LLP acquired a new stake in Xometry during the third quarter valued at approximately $1,069,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.