Xometry (NASDAQ:XMTR) Sees Large Volume Increase – Should You Buy?

Xometry, Inc. (NASDAQ:XMTR) saw unusually-high trading volume on Tuesday . Approximately 1,833,035 shares changed hands during mid-day 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.

Wall Street Analysts Forecast Growth

XMTR has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of Xometry in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their price objective on shares of Xometry from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. UBS Group boosted their target price on shares of Xometry from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Cantor Fitzgerald raised their price target on shares of Xometry from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their target price on Xometry from $32.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.78.

Xometry Trading Down 2.3%

The firm has a market cap of $1.79 billion, a P/E ratio of -33.02 and a beta of 0.84. The company’s 50 day moving average is $28.16 and its two-hundred day moving average is $31.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55.

Insiders Place Their Bets

In other news, CFO James Miln sold 1,346 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $25.13, for a total value of $33,824.98. Following the completion of the transaction, the chief financial officer now owns 144,713 shares in the company, valued at approximately $3,636,637.69. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Emily Rollins sold 10,041 shares of Xometry stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $30.70, for a total transaction of $308,258.70. Following the sale, the director now owns 11,105 shares in the company, valued at approximately $340,923.50. This trade represents a 47.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,644 shares of company stock worth $666,660. 9.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xometry

A number of hedge funds have recently modified their holdings of XMTR. State of Wyoming grew its position in Xometry by 8.2% in the fourth quarter. State of Wyoming now owns 8,876 shares of the company’s stock valued at $379,000 after acquiring an additional 676 shares during the period. Rhumbline Advisers grew its holdings in shares of Xometry by 5.7% in the 4th quarter. Rhumbline Advisers now owns 59,367 shares of the company’s stock worth $2,533,000 after purchasing an additional 3,180 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Xometry during the 4th quarter worth about $259,000. Truist Financial Corp acquired a new stake in shares of Xometry during the 4th quarter worth about $225,000. Finally, Principal Financial Group Inc. acquired a new position in Xometry in the fourth quarter valued at about $1,258,000. 97.31% of the stock is owned by institutional investors and hedge funds.

About Xometry

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.