Xometry (NASDAQ:XMTR) Sets New 12-Month High – Still a Buy?

Shares of Xometry, Inc. (NASDAQ:XMTR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $72.98 and last traded at $71.8530, with a volume of 364430 shares trading hands. The stock had previously closed at $66.03.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wedbush raised their price objective on shares of Xometry from $48.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald raised their price target on Xometry from $41.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a report on Wednesday, January 21st. Zacks Research lowered Xometry from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Citizens Jmp increased their price objective on shares of Xometry from $65.00 to $75.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Xometry currently has an average rating of “Hold” and an average price target of $57.89.

Xometry Trading Up 9.2%

The firm has a market cap of $3.70 billion, a PE ratio of -57.68 and a beta of 0.86. The company has a current ratio of 3.62, a quick ratio of 3.58 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $61.81 and a 200 day simple moving average of $54.29.

Insider Buying and Selling

In other news, President Sanjeev Singh Sahni sold 26,190 shares of Xometry stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $65.47, for a total value of $1,714,659.30. Following the sale, the president directly owned 63,130 shares of the company’s stock, valued at $4,133,121.10. The trade was a 29.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Subir Dutt sold 3,929 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $65.55, for a total transaction of $257,545.95. Following the sale, the insider directly owned 67,419 shares of the company’s stock, valued at $4,419,315.45. The trade was a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,436 shares of company stock worth $4,163,197 in the last ninety days. 9.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xometry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XMTR. Quantbot Technologies LP acquired a new stake in shares of Xometry in the 3rd quarter worth $30,000. Advisors Asset Management Inc. increased its position in Xometry by 68.3% during the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock worth $34,000 after purchasing an additional 412 shares during the last quarter. Westend Capital Management LLC purchased a new position in Xometry during the third quarter worth about $41,000. GAMMA Investing LLC boosted its holdings in Xometry by 26.5% in the 4th 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. Finally, Global Retirement Partners LLC purchased a new stake in shares of Xometry in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.