Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) were down 5.6% during trading on Monday . The stock traded as low as $51.25 and last traded at $52.49. Approximately 1,401,853 shares were traded during trading, a decline of 30% from the average daily volume of 1,989,385 shares. The stock had previously closed at $55.61.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Robert W. Baird cut Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price objective on the stock. in a research note on Thursday, August 7th. Baird R W cut Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft cut Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective on the stock. in a research note on Friday, July 18th. Arete cut Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price on the stock. in a research note on Friday, July 25th. Finally, Arete Research cut Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Symbotic currently has a consensus rating of "Hold" and a consensus target price of $42.69.
View Our Latest Analysis on Symbotic
Symbotic Trading Down 1.1%
The firm has a fifty day moving average of $44.01 and a two-hundred day moving average of $31.04. The company has a market cap of $30.16 billion, a PE ratio of -730.81, a price-to-earnings-growth ratio of 53.38 and a beta of 2.06.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results 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). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company had revenue of $592.12 million for the quarter, compared to the consensus estimate of $533.55 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company's quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.
Insider Activity
In other news, Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $55.15, for a total transaction of $220,600.00. Following the sale, the director directly owned 189,036 shares in the company, valued at $10,425,335.40. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maria G. Freve sold 478 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $54.73, for a total value of $26,160.94. Following the transaction, the insider directly owned 3,312 shares of the company's stock, valued at $181,265.76. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,241 shares of company stock valued at $5,492,282. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of SYM. GAMMA Investing LLC grew its holdings in shares of Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Symbotic during the first quarter worth about $31,000. AdvisorNet Financial Inc purchased a new stake in Symbotic in the second quarter worth approximately $32,000. Gables Capital Management Inc. purchased a new stake in Symbotic in the second quarter worth approximately $39,000. Finally, CWM LLC boosted its stake in Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after buying an additional 2,090 shares in the last quarter.
About Symbotic
(
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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.
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