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

Xometry (NASDAQ:XMTR) had its target price upped by equities research analysts at Royal Bank of Canada from $27.00 to $40.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 5.77% from the company’s previous close.

XMTR has been the subject of a number of other research reports. UBS Group raised their target price on Xometry from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald restated an “underweight” rating and issued a $12.00 price target on shares of Xometry in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Xometry from a “neutral” rating to an “overweight” rating and upped their price target for the company from $25.00 to $45.00 in a report on Wednesday, December 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $42.00 target price on shares of Xometry in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Xometry Stock Performance

NASDAQ:XMTR traded up $0.82 during midday trading on Friday, reaching $42.45. The stock had a trading volume of 167,310 shares, compared to its average volume of 407,071. The stock has a market cap of $2.10 billion, a P/E ratio of -40.43 and a beta of 0.83. The firm has a fifty day simple moving average of $32.61 and a two-hundred day simple moving average of $22.04. 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 $45.33.

Insider Activity

In other Xometry news, COO Peter Goguen sold 12,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.55, for a total value of $354,600.00. Following the sale, the chief operating officer now directly owns 180,419 shares of the company’s stock, valued at $5,331,381.45. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Matthew Leibel sold 16,564 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $30.08, for a total transaction of $498,245.12. Following the completion of the sale, the chief technology officer now directly owns 77,856 shares in the company, valued at approximately $2,341,908.48. This trade represents a 17.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,279 shares of company stock worth $1,162,332. 16.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xometry

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Xometry by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,522 shares of the company’s stock valued at $1,624,000 after acquiring an additional 25,247 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Xometry by 66.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 25,403 shares of the company’s stock worth $294,000 after purchasing an additional 10,103 shares during the period. nVerses Capital LLC purchased a new position in Xometry during the 2nd quarter worth approximately $38,000. Rhumbline Advisers raised its stake in Xometry by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 58,002 shares of the company’s stock valued at $670,000 after purchasing an additional 3,690 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Xometry by 44.9% in the second quarter. Dimensional Fund Advisors LP now owns 493,847 shares of the company’s stock worth $5,712,000 after buying an additional 153,107 shares during the period. 97.31% of the stock is currently 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.