Xometry (NASDAQ:XMTR) Raised to “Overweight” at JPMorgan Chase & Co.

Xometry (NASDAQ:XMTR) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 price target on the stock, up from their previous price target of $25.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.90% from the company’s current price.

A number of other research analysts have also issued reports on XMTR. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 target price on shares of Xometry in a report on Monday. Cantor Fitzgerald restated an “underweight” rating and set a $12.00 price objective on shares of Xometry in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Craig Hallum increased their target price on shares of Xometry from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, UBS Group lifted their price target on shares of Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One 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’s stock. According to MarketBeat, Xometry has an average rating of “Moderate Buy” and a consensus target price of $29.88.

Xometry Stock Up 1.3 %

Shares of XMTR stock opened at $37.22 on Wednesday. Xometry has a 1 year low of $11.08 and a 1 year high of $38.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.55 and a current ratio of 4.59. The business’s fifty day moving average is $27.20 and its 200-day moving average is $19.80. The stock has a market cap of $1.84 billion, a PE ratio of -35.45 and a beta of 0.83.

Insider Activity

In other news, COO Peter Goguen sold 5,000 shares of Xometry stock in a transaction on Monday, November 11th. The stock was sold at an average price of $32.00, for a total transaction of $160,000.00. Following the transaction, the chief operating officer now owns 175,419 shares in the company, valued at approximately $5,613,408. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Matthew Leibel sold 16,564 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $30.08, for a total value of $498,245.12. Following the transaction, the chief technology officer now directly owns 77,856 shares in the company, valued at $2,341,908.48. The trade was a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,233 shares of company stock worth $1,139,000 over the last 90 days. 16.79% of the stock is owned by company insiders.

Institutional Trading of Xometry

A number of hedge funds have recently made changes to their positions in XMTR. nVerses Capital LLC acquired a new position in Xometry in the 2nd quarter valued at approximately $38,000. ProShare Advisors LLC purchased a new position in shares of Xometry during the 2nd quarter valued at $53,000. Point72 Asset Management L.P. purchased a new position in shares of Xometry during the 2nd quarter valued at $55,000. US Bancorp DE increased its stake in shares of Xometry by 57.7% in the third 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 last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Xometry during the third quarter worth $153,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.