Xometry (NASDAQ:XMTR) Shares Down 9.1% – Time to Sell?

Xometry, Inc. (NASDAQ:XMTR)’s share price was down 9.1% on Thursday . The company traded as low as $90.64 and last traded at $89.5240. Approximately 306,744 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 944,793 shares. The stock had previously closed at $98.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xometry in a report on Friday, May 29th. Cantor Fitzgerald upgraded Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Thursday, April 30th. Wedbush initiated coverage on Xometry in a research note on Thursday, July 16th. They set an “outperform” rating and a $126.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $78.00 price objective on shares of Xometry in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.25.

Xometry Stock Down 0.2%

The company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86. The firm has a market cap of $4.47 billion, a P/E ratio of -84.62 and a beta of 1.27. The stock’s fifty day moving average is $91.31 and its two-hundred day moving average is $66.81.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $205.14 million during the quarter, compared to the consensus estimate of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, research analysts anticipate that Xometry, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Xometry news, CFO James Miln sold 2,392 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $93.29, for a total value of $223,149.68. Following the transaction, the chief financial officer directly owned 179,131 shares in the company, valued at $16,711,130.99. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Vaidyanathan Raghavan sold 1,866 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.21, for a total value of $173,929.86. Following the completion of the sale, the chief technology officer directly owned 140,777 shares in the company, valued at approximately $13,121,824.17. The trade was a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 80,496 shares of company stock valued at $7,124,340 in the last ninety days. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Xometry

A number of institutional investors and hedge funds have recently bought and sold shares of XMTR. GAMMA Investing LLC lifted its position in Xometry by 26.5% during the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $46,000 after purchasing an additional 162 shares during the last quarter. Comerica Bank increased its holdings in shares of Xometry by 17.9% in the 3rd quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after buying an additional 173 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Xometry by 2.1% in the 4th quarter. M&T Bank Corp now owns 8,590 shares of the company’s stock worth $510,000 after buying an additional 180 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Xometry by 9.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock valued at $194,000 after buying an additional 290 shares in the last quarter. Finally, Mariner LLC raised its position in shares of Xometry by 3.2% during the 3rd quarter. Mariner LLC now owns 9,844 shares of the company’s stock valued at $536,000 after buying an additional 301 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

About Xometry

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.