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 Wednesday . The stock traded as high as $39.62 and last traded at $39.62, with a volume of 18686 shares changing hands. The stock had previously closed at $37.22.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XMTR. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a report on Monday. JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $45.00 in a report on Wednesday. The Goldman Sachs Group increased their target price on Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald restated an “underweight” rating and issued a $12.00 target price on shares of Xometry in a research note on Wednesday, November 6th. Finally, UBS Group boosted their target price on shares of Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.88.

Xometry Stock Up 7.8 %

The company has a market cap of $1.99 billion, a price-to-earnings ratio of -37.59 and a beta of 0.83. The firm has a 50-day moving average price of $27.20 and a 200 day moving average price of $19.80. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55.

Insider Buying and Selling

In other Xometry news, COO Peter Goguen sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $32.00, for a total value of $160,000.00. Following the completion of the transaction, the chief operating officer now owns 175,419 shares of the company’s stock, valued at $5,613,408. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Matthew Leibel sold 16,564 shares of Xometry stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 in the company, valued at approximately $2,341,908.48. This represents a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,233 shares of company stock valued at $1,139,000. 16.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xometry

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in Xometry by 40.2% during the third quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after buying an additional 1,169,778 shares during the last quarter. Sylebra Capital LLC grew its position in shares of Xometry by 134.2% during the second quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company’s stock valued at $17,441,000 after purchasing an additional 864,454 shares in the last quarter. Fred Alger Management LLC increased its holdings in shares of Xometry by 20.8% in the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock worth $33,354,000 after purchasing an additional 312,971 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Xometry in the second quarter worth about $2,013,000. Finally, Squarepoint Ops LLC boosted its stake in Xometry by 227.7% during the second quarter. Squarepoint Ops LLC now owns 249,025 shares of the company’s stock valued at $2,879,000 after buying an additional 173,042 shares during the last quarter. 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.