Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of "Hold" from Analysts

Symbotic Inc. (NASDAQ:SYM - Get Free Report) has been given a consensus recommendation of "Hold" by the seventeen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $37.20.

SYM has been the subject of several research reports. Citigroup reduced their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group reduced their price objective on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. BWS Financial reissued a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th.

Symbotic Stock Down 4.0%

NASDAQ SYM traded down $1.29 during midday trading on Friday, hitting $31.16. The company had a trading volume of 1,871,482 shares, compared to its average volume of 1,940,791. The firm has a fifty day simple moving average of $25.50 and a two-hundred day simple moving average of $25.23. Symbotic has a fifty-two week low of $16.32 and a fifty-two week high of $41.76. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of -779.00, a P/E/G ratio of 54.08 and a beta of 1.95.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The company had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm's quarterly revenue was up 39.7% on a year-over-year basis. As a group, equities analysts predict that Symbotic will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 2,040 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total value of $45,369.60. Following the transaction, the insider now directly owns 23,822 shares in the company, valued at approximately $529,801.28. This trade represents a 7.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Carol J. Hibbard sold 4,628 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total value of $104,685.36. Following the sale, the chief financial officer now owns 54,011 shares of the company's stock, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,601 shares of company stock worth $1,092,430. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Symbotic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the period. Ulland Investment Advisors LLC acquired a new position in Symbotic in the first quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after acquiring an additional 503 shares during the last quarter. Private Trust Co. NA acquired a new stake in Symbotic during the 4th quarter worth $47,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Symbotic during the 4th quarter worth $47,000.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.