Xometry (NASDAQ:XMTR) Stock Rating Upgraded by JPMorgan Chase & Co.

Xometry (NASDAQ:XMTR) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $45.00 price objective on the stock, up from their prior price objective of $25.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.95% from the stock’s previous close.

A number of other brokerages also recently weighed in on XMTR. JMP Securities reiterated a “market outperform” rating and set a $42.00 price target on shares of Xometry in a report on Monday. Craig Hallum raised their price objective on Xometry from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Citigroup upped their target price on Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald restated an “underweight” rating and set a $12.00 price target on shares of Xometry in a report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Xometry from $23.00 to $27.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Xometry presently has an average rating of “Moderate Buy” and a consensus price target of $29.88.

Xometry Trading Down 0.6 %

Shares of NASDAQ XMTR opened at $36.60 on Wednesday. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. Xometry has a 12 month low of $11.08 and a 12 month high of $41.43. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -34.86 and a beta of 0.83. The business has a fifty day simple moving average of $27.98 and a 200-day simple moving average of $20.04.

Insider Activity at Xometry

In other news, COO Peter Goguen sold 12,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.55, for a total value of $354,600.00. Following the completion of the transaction, the chief operating officer now owns 180,419 shares in the company, valued at approximately $5,331,381.45. This represents a 6.24 % 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 3,729 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $29.49, for a total transaction of $109,968.21. Following the transaction, the director now directly owns 12,457 shares of the company’s stock, valued at $367,356.93. The trade was a 23.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,219 shares of company stock worth $1,178,519 over the last three months. Company insiders own 16.79% of the company’s stock.

Institutional Investors Weigh In On Xometry

Large investors have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of Xometry by 0.6% in the 3rd quarter. Raymond James & Associates now owns 287,986 shares of the company’s stock worth $5,290,000 after purchasing an additional 1,586 shares during the last quarter. Sei Investments Co. boosted its position in Xometry by 0.8% in the second quarter. Sei Investments Co. now owns 214,048 shares of the company’s stock valued at $2,474,000 after buying an additional 1,708 shares in the last quarter. US Bancorp DE grew its stake in Xometry by 57.7% during the third quarter. US Bancorp DE now owns 5,570 shares of the company’s stock worth $102,000 after buying an additional 2,037 shares during the last quarter. State Street Corp increased its holdings in shares of Xometry by 0.3% during the third quarter. State Street Corp now owns 887,139 shares of the company’s stock worth $16,297,000 after buying an additional 3,027 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Xometry in the second quarter valued at approximately $38,000. 97.31% of the stock is currently owned by institutional investors.

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.