Xometry (NASDAQ:XMTR) Hits New 52-Week High – Still a Buy?

Xometry, Inc. (NASDAQ:XMTR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.22 and last traded at $42.12, with a volume of 1162062 shares changing hands. The stock had previously closed at $41.67.

Wall Street Analysts Forecast Growth

XMTR has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Citigroup upped their price target on shares of Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 target price on shares of Xometry in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $45.00 in a research note on Wednesday, December 18th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.89.

Xometry Stock Up 3.8 %

The company has a market cap of $2.17 billion, a price-to-earnings ratio of -41.62 and a beta of 0.83. The stock’s 50-day moving average is $29.87 and its 200-day moving average is $20.85. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90.

Insider Activity

In related news, Director Emily Rollins sold 3,729 shares of Xometry stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.49, for a total transaction of $109,968.21. Following the transaction, the director now owns 12,457 shares of the company’s stock, valued at $367,356.93. The trade was a 23.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Goguen sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $32.00, for a total value of $160,000.00. Following the sale, the chief operating officer now owns 175,419 shares of the company’s stock, valued at $5,613,408. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,219 shares of company stock worth $1,178,519. Company insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Xometry in the 2nd quarter valued at about $38,000. ProShare Advisors LLC purchased a new stake in shares of Xometry during the second quarter valued at approximately $53,000. Point72 Asset Management L.P. purchased a new stake in shares of Xometry during the second quarter valued at approximately $55,000. US Bancorp DE lifted its holdings in Xometry by 57.7% during the third quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after acquiring an additional 2,037 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Xometry in the second quarter worth $129,000. 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.