Xometry (NASDAQ:XMTR) Shares Down 9.1% – Here’s Why

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

Analyst Ratings Changes

A number of equities research analysts recently commented on XMTR shares. Royal Bank Of Canada lifted their price objective on Xometry from $55.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Citizens Jmp increased their target price on Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xometry in a research note on Friday, May 29th. The Goldman Sachs Group restated a “neutral” rating and set a $78.00 target price on shares of Xometry in a report on Friday, May 8th. Finally, Citigroup boosted their target price on Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.25.

Xometry Trading Down 11.9%

The company has a market capitalization of $4.50 billion, a P/E ratio of -85.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.76. The business’s 50-day moving average price is $91.37 and its two-hundred day moving average price is $66.51.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $205.14 million during the quarter, compared to analysts’ expectations of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, analysts forecast that Xometry, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Xometry

In other Xometry news, CEO Randolph Altschuler sold 50,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $87.85, for a total value of $4,392,500.00. Following the completion of the sale, the chief executive officer directly owned 455,248 shares in the company, valued at $39,993,536.80. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lukas Alexander Biewald purchased 47,058 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $85.00 per share, for a total transaction of $3,999,930.00. Following the transaction, the director owned 55,134 shares of the company’s stock, valued at $4,686,390. This trade represents a 582.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 80,496 shares of company stock valued at $7,124,340. Insiders own 9.10% of the company’s stock.

Institutional Trading of Xometry

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in Xometry by 54.2% in the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock valued at $107,029,000 after buying an additional 690,558 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Xometry by 9.2% during the fourth quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock worth $93,729,000 after acquiring an additional 132,792 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Xometry by 1.6% during the fourth quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock worth $77,677,000 after acquiring an additional 20,901 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Xometry in the 4th quarter valued at $76,393,000. Finally, State Street Corp lifted its position in Xometry by 1.2% in the 4th quarter. State Street Corp now owns 978,540 shares of the company’s stock valued at $58,194,000 after acquiring an additional 11,272 shares in the last quarter. 97.31% of the stock is owned by 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.