Royal Bank of Canada Forecasts Strong Price Appreciation for Xometry (NASDAQ:XMTR) Stock

Xometry (NASDAQ:XMTR) had its price objective upped by Royal Bank of Canada from $27.00 to $40.00 in a research note published on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

XMTR has been the topic of a number of other research reports. Citigroup increased their price objective on Xometry from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on shares of Xometry from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $12.00 price objective on shares of Xometry in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $45.00 in a research note on Wednesday, December 18th. Finally, Wedbush reissued an “outperform” rating and issued a $48.00 price target on shares of Xometry in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Xometry currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Xometry Trading Up 3.8 %

NASDAQ:XMTR opened at $43.20 on Friday. Xometry has a 1 year low of $11.08 and a 1 year high of $45.33. The stock’s fifty day moving average price is $33.09 and its two-hundred day moving average price is $22.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. The company has a market cap of $2.14 billion, a P/E ratio of -41.14 and a beta of 0.83.

Insider Activity

In other Xometry news, COO Peter Goguen sold 986 shares of Xometry stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $40.08, for a total transaction of $39,518.88. Following the transaction, the chief operating officer now directly owns 168,933 shares of the company’s stock, valued at approximately $6,770,834.64. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $498,245.12. Following the completion of the sale, the chief technology officer now directly owns 77,856 shares of the company’s stock, valued at $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 quarter, 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 Trading of Xometry

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Xometry during the second quarter valued at about $38,000. ProShare Advisors LLC purchased a new stake in Xometry during the 2nd quarter valued at about $53,000. Point72 Asset Management L.P. purchased a new stake in Xometry during the 2nd quarter valued at about $55,000. US Bancorp DE grew its position in Xometry by 57.7% during 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 last quarter. Finally, SG Americas Securities LLC purchased a new position in Xometry in the 3rd quarter worth approximately $153,000. 97.31% of the stock is owned by 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.