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

Shares of Xometry, Inc. (NASDAQ:XMTR) gapped up before the market opened on Monday . The stock had previously closed at $25.72, but opened at $26.96. Xometry shares last traded at $26.31, with a volume of 39,530 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on XMTR shares. JMP Securities restated a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research report on Monday, February 10th. Cantor Fitzgerald raised their price objective on shares of Xometry from $12.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on shares of Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. UBS Group raised their price objective on shares of Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $48.00 price objective on shares of Xometry in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

Xometry Stock Up 2.9 %

The firm has a market capitalization of $1.33 billion, a PE ratio of -25.21 and a beta of 0.69. The business’s 50 day simple moving average is $31.23 and its 200 day simple moving average is $28.83. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90.

Insiders Place Their Bets

In related news, CFO James Miln sold 25,852 shares of Xometry stock in a transaction dated Tuesday, March 4th. The shares were 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 directly owns 105,238 shares of the company’s stock, valued at approximately $2,532,026.28. The trade was a 19.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randolph Altschuler sold 27,566 shares of Xometry stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $26.60, for a total transaction of $733,255.60. Following the transaction, the chief executive officer now directly owns 256,570 shares of the company’s stock, valued at approximately $6,824,762. This represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,965 shares of company stock valued at $2,050,643 in the last three months. Corporate insiders own 16.79% of the company’s stock.

Hedge Funds Weigh In On Xometry

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Xometry by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company’s stock worth $183,151,000 after purchasing an additional 86,997 shares during the period. FMR LLC boosted its stake in shares of Xometry by 40.2% during the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock worth $74,921,000 after purchasing an additional 1,169,778 shares during the period. Sylebra Capital LLC boosted its stake in shares of Xometry by 2.1% during the 4th quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock worth $78,270,000 after purchasing an additional 37,883 shares during the period. Fred Alger Management LLC boosted its stake in shares of Xometry by 20.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock worth $33,354,000 after purchasing an additional 312,971 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Xometry by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,004,452 shares of the company’s stock worth $42,861,000 after purchasing an additional 8,974 shares during the period. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.