Xometry Inc. (NASDAQ:XMTR) is one of the 10 best industrial distribution stocks to invest in according to hedge funds.
On June 2, Xometry Inc. (NASDAQ:XMTR) announced that it has initiated an underwritten public offering worth $225M involving its Class A common shares
The net proceeds resulting from this offering will be utilized by the company for general corporate needs and to meet its working capital requirements. Copyright: belchonock / 123RF Stock Photo The company revealed that J.P. Morgan and Goldman Sachs & Co. are facilitating the proposed offering as joint book-runners.
The company’s impressive first-quarter performance has also been grabbing analyst interest. Back on May 13, following the first quarter earnings report, Citi decided to update its outlook on Xometry Inc. (NASDAQ:XMTR). The firm raised its target price on the stock from $65 to $98, while maintaining a Buy rating.