Symbotic (NASDAQ:SYM) Shares Down 1.5% - Should You Sell?

Key Points

• Symbotic Inc. shares dropped 1.5% during mid-day trading, with a market price of $52.27 and trading volume significantly down by 84% from the average.
• Analyst ratings for Symbotic are mixed, with one analyst giving a sell rating, while others maintain a range of buy and hold ratings; the consensus rating is currently "Hold".
• Symbotic reported a loss of $0.04 earnings per share in its last quarterly earnings, missing the consensus estimate, despite achieving revenue growth of 39.7% compared to the same quarter last year.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares traded down 1.5% during trading on Tuesday . The stock traded as low as $52.35 and last traded at $52.27. 299,682 shares changed hands during trading, a decline of 84% from the average session volume of 1,900,300 shares. The stock had previously closed at $53.08.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reiterated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. Northland Securities increased their price objective on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lowered Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a report on Friday, July 18th. Arete Research downgraded Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, Oppenheimer reissued an "outperform" rating and issued a $54.00 target price (up from $35.00) on shares of Symbotic in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Symbotic currently has a consensus rating of "Hold" and an average target price of $39.87.

Symbotic Trading Down 6.1%

The firm has a 50-day simple moving average of $39.77 and a two-hundred day simple moving average of $29.64. The company has a market capitalization of $29.87 billion, a price-to-earnings ratio of -1,270.00, a P/E/G ratio of 54.95 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly 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). The company had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. Symbotic's revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. Equities research analysts anticipate that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other Symbotic news, Director Daniela L. Rus sold 1,000 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $48.33, for a total transaction of $48,330.00. Following the sale, the director directly owned 22,729 shares of the company's stock, valued at approximately $1,098,492.57. This trade represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 2,660 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $48.86, for a total value of $129,967.60. Following the sale, the insider owned 31,884 shares in the company, valued at $1,557,852.24. This trade represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,136 shares of company stock valued at $2,534,217 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently modified their holdings of the business. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic during the 2nd quarter valued at about $32,000. Gables Capital Management Inc. acquired a new stake in shares of Symbotic during the 2nd quarter valued at about $39,000. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 1,341 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of Symbotic during the 1st quarter valued at about $31,000. Finally, Farther Finance Advisors LLC grew its position in shares of Symbotic by 24.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock valued at $69,000 after acquiring an additional 342 shares during the period.

About Symbotic

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.