Royal Bank of Canada Issues Positive Forecast for Xometry (NASDAQ:XMTR) Stock Price

Xometry (NASDAQ:XMTR) had its target price raised by Royal Bank of Canada from $27.00 to $40.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald restated an “underweight” rating and issued a $12.00 price objective on shares of Xometry in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and upped their target price for the company from $25.00 to $45.00 in a research report on Wednesday, December 18th. Wedbush reaffirmed an “outperform” rating and set a $48.00 price target on shares of Xometry in a research report on Friday, December 20th. Craig Hallum increased their price objective on Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, UBS Group lifted their target price on shares of Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Xometry Stock Up 3.8 %

Shares of NASDAQ:XMTR opened at $43.20 on Friday. The firm has a 50 day simple moving average of $33.09 and a 200-day simple moving average of $22.25. Xometry has a twelve month low of $11.08 and a twelve month high of $45.33. The company has a current ratio of 4.59, a quick ratio of 4.55 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $2.14 billion, a PE ratio of -41.14 and a beta of 0.83.

Insider Transactions at Xometry

In related news, COO Peter Goguen sold 986 shares of Xometry stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $40.08, for a total value of $39,518.88. Following the sale, the chief operating officer now directly owns 168,933 shares in the company, valued at $6,770,834.64. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emily Rollins sold 3,729 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.49, for a total value of $109,968.21. Following the completion of the transaction, the director now owns 12,457 shares of the company’s stock, valued at $367,356.93. The trade was a 23.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,279 shares of company stock worth $1,162,332. Company insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in Xometry in the 2nd quarter valued at about $38,000. ProShare Advisors LLC acquired a new position in shares of Xometry during the 2nd quarter valued at $53,000. Point72 Asset Management L.P. purchased a new stake in shares of Xometry in the second quarter worth about $55,000. US Bancorp DE boosted its holdings in Xometry by 57.7% in the 3rd quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after acquiring an additional 2,037 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Xometry in the second quarter valued at $129,000. Hedge funds and other 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.