Xometry (NASDAQ:XMTR) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Xometry (NASDAQ:XMTR) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $45.00 price target on the stock, up from their prior price target of $25.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.95% from the stock’s previous close.

XMTR has been the topic of several other reports. Royal Bank of Canada increased their price target on shares of Xometry from $23.00 to $27.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Craig Hallum upped their price objective on Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price target on Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $42.00 price target on shares of Xometry in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Xometry currently has an average rating of “Moderate Buy” and a consensus target price of $29.88.

Xometry Stock Down 0.6 %

Shares of NASDAQ:XMTR opened at $36.60 on Wednesday. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.81 billion, a P/E ratio of -34.86 and a beta of 0.83. Xometry has a 12 month low of $11.08 and a 12 month high of $41.43. The company’s 50-day moving average price is $27.98 and its two-hundred day moving average price is $20.04.

Insider Buying and Selling

In other Xometry news, CTO Matthew Leibel sold 16,564 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $30.08, for a total value of $498,245.12. Following the completion of the sale, the chief technology officer now owns 77,856 shares of the company’s stock, valued at approximately $2,341,908.48. This represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Goguen sold 986 shares of Xometry stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total transaction of $39,518.88. Following the transaction, the chief operating officer now directly owns 168,933 shares in the company, valued at approximately $6,770,834.64. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,219 shares of company stock valued at $1,178,519 over the last three months. Company insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

A number of large investors have recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Xometry during the third quarter worth about $1,586,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Xometry during the 3rd quarter valued at about $355,000. Versor Investments LP bought a new position in shares of Xometry during the 3rd quarter valued at about $411,000. ARK Investment Management LLC grew its position in shares of Xometry by 74.9% in the 2nd quarter. ARK Investment Management LLC now owns 264,937 shares of the company’s stock valued at $3,063,000 after purchasing an additional 113,478 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Xometry by 191.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 216,700 shares of the company’s stock worth $3,981,000 after purchasing an additional 142,262 shares in the last quarter. Institutional investors own 97.31% of the company’s stock.

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.