Symbotic (NASDAQ:SYM) Sets New 52-Week Low - What's Next?

Key Points

• Symbotic shares fell 7.7% to a new 52-week low of $37.35, below the stock’s 50-day and 200-day moving averages. The company has a $22.83 billion market capitalization and trades at a very high P/E ratio of 419.87.
• Analyst sentiment is mixed, with seven Buy, five Hold and two Sell ratings, resulting in a consensus Hold rating and a $65.45 target price. Recent targets ranged from $38 at Barclays to $51 at Robert W. Baird.
• Symbotic’s latest quarter showed revenue growth of 21.7% year over year to $720.84 million, but EPS of $0.09 missed estimates of $0.13. Insiders sold 82,970 shares worth about $3.4 million over the past 90 days, primarily to cover taxes on vested equity awards.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares hit a new 52-week low on Wednesday. The company traded as low as $37.35 and last traded at $37.6450, with a volume of 1,149,805 shares. The stock had previously closed at $40.89.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SYM shares. Weiss Ratings upgraded shares of Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 21st. Robert W. Baird set a $51.00 price target on Symbotic in a research note on Thursday, August 6th. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Needham & Company LLC lowered their price objective on Symbotic from C$75.00 to C$60.00 and set a "buy" rating for the company in a research note on Tuesday, September 15th. Finally, Barclays lowered their price objective on Symbotic from $44.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.45.

Symbotic Trading Down 7.7%

The firm has a market capitalization of $22.83 billion, a P/E ratio of 419.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.97. The business's 50 day simple moving average is $42.03 and its two-hundred day simple moving average is $46.22.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $720.84 million during the quarter, compared to analysts' expectations of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. Analysts predict that Symbotic Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, insider Maria G. Freve sold 2,244 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.28, for a total transaction of $90,388.32. Following the sale, the insider directly owned 3,096 shares in the company, valued at approximately $124,706.88. This trade represents a 42.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Izilda P. Martins sold 27,463 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $40.80, for a total value of $1,120,490.40. Following the sale, the chief financial officer owned 35,171 shares in the company, valued at approximately $1,434,976.80. This represents a 43.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 82,970 shares of company stock worth $3,397,126 over the last 90 days. 8.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GK Wealth Management LLC bought a new stake in Symbotic in the 3rd quarter worth about $26,000. Green Alpha Advisors LLC raised its position in Symbotic by 7.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 18,087 shares of the company's stock worth $761,000 after buying an additional 1,201 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in Symbotic by 88.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 632 shares of the company's stock valued at $27,000 after acquiring an additional 297 shares during the period. QRG Capital Management Inc. lifted its stake in Symbotic by 7.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,100 shares of the company's stock valued at $229,000 after acquiring an additional 344 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in Symbotic during the 2nd quarter valued at about $450,000.

About Symbotic

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company's solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic's systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.