Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $64.43 and last traded at $63.62, with a volume of 2798649 shares trading hands. The stock had previously closed at $58.10.
Analysts Set New Price Targets
SYM has been the topic of a number of research analyst reports. Arete Research downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Robert W. Baird downgraded Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target for the company. in a report on Thursday, August 7th. UBS Group restated a "sell" rating and set a $35.00 price objective (up from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Zacks Research cut shares of Symbotic from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Finally, Northland Securities raised their price target on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Symbotic presently has a consensus rating of "Hold" and an average target price of $45.00.
View Our Latest Stock Report on Symbotic
Symbotic Stock Up 9.5%
The business has a 50-day simple moving average of $51.29 and a two-hundred day simple moving average of $37.07. The stock has a market capitalization of $37.57 billion, a price-to-earnings ratio of -908.73 and a beta of 2.06.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). The firm had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. On average, analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.
Insider Activity at Symbotic
In related news, Director Charles Kane sold 25,000 shares of Symbotic stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $47.62, for a total value of $1,190,500.00. Following the transaction, the director directly owned 79,507 shares in the company, valued at $3,786,123.34. The trade was a 23.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $50.58, for a total value of $124,173.90. Following the completion of the transaction, the insider directly owned 29,429 shares in the company, valued at $1,488,518.82. This represents a 7.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 483,032 shares of company stock worth $23,897,448. 0.60% of the stock is owned by corporate insiders.
Institutional Trading of Symbotic
Several hedge funds and other institutional investors have recently modified their holdings of SYM. IAG Wealth Partners LLC acquired a new position in Symbotic during the second quarter valued at $32,000. AdvisorNet Financial Inc purchased a new stake in shares of Symbotic in the second quarter worth approximately $32,000. Gables Capital Management Inc. acquired a new stake in shares of Symbotic during the second quarter worth approximately $39,000. NewEdge Advisors LLC grew its position in Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after purchasing an additional 573 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after buying an additional 1,341 shares in the last quarter.
Symbotic Company Profile
(
Get Free Report)
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.
Further Reading
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