Xometry (NASDAQ:XMTR) Sees Strong Trading Volume – Should You Buy?

Shares of Xometry, Inc. (NASDAQ:XMTR) saw strong trading volume on Tuesday . 1,833,035 shares traded hands during trading, an increase of 177% from the previous session’s volume of 661,675 shares.The stock last traded at $35.01 and had previously closed at $36.20.

Analyst Ratings Changes

Several equities research analysts recently commented on XMTR shares. Citigroup cut their price objective on shares of Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada upped their price objective on Xometry from $32.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Xometry from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group boosted their price objective on shares of Xometry from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, UBS Group raised their target price on shares of Xometry from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.78.

Xometry Trading Up 0.5%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The business’s 50-day moving average price is $28.67 and its 200 day moving average price is $31.31. The company has a market cap of $1.71 billion, a P/E ratio of -32.21 and a beta of 0.84.

Insider Buying and Selling

In other news, Director Emily Rollins sold 10,041 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $30.70, for a total value of $308,258.70. Following the completion of the sale, the director now directly owns 11,105 shares of the company’s stock, valued at $340,923.50. This trade represents a 47.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Randolph Altschuler sold 9,331 shares of Xometry stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $25.16, for a total value of $234,767.96. Following the transaction, the chief executive officer now owns 328,934 shares of the company’s stock, valued at $8,275,979.44. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,644 shares of company stock worth $666,660. Company insiders own 9.66% of the company’s stock.

Hedge Funds Weigh In On Xometry

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in Xometry by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 219,075 shares of the company’s stock valued at $9,120,000 after buying an additional 2,375 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Xometry during the fourth quarter worth approximately $1,599,000. Rhumbline Advisers boosted its holdings in shares of Xometry by 5.7% during the fourth quarter. Rhumbline Advisers now owns 59,367 shares of the company’s stock worth $2,533,000 after acquiring an additional 3,180 shares during the period. Baillie Gifford & Co. bought a new position in shares of Xometry during the fourth quarter worth approximately $30,297,000. Finally, Principal Financial Group Inc. bought a new position in shares of Xometry during the fourth quarter worth approximately $1,258,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.