Symbotic (NASDAQ:SYM) Shares Up 2.1% - Should You Buy?

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price shot up 2.1% during trading on Thursday . The company traded as high as $48.39 and last traded at $48.14. 809,000 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,044,075 shares. The stock had previously closed at $47.16.

Analyst Upgrades and Downgrades

SYM has been the subject of several research reports. Arete initiated coverage on Symbotic in a research note on Wednesday, June 25th. They set a "buy" rating and a $50.00 price target for the company. The Goldman Sachs Group cut their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Northland Securities lifted their price target on Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research note on Tuesday. Citigroup cut their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, BWS Financial reaffirmed a "sell" rating and set a $10.00 price target on shares of Symbotic in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Symbotic currently has an average rating of "Moderate Buy" and a consensus target price of $39.59.

Symbotic Trading Down 1.6%

The firm's 50 day moving average is $32.52 and its two-hundred day moving average is $27.06. The stock has a market cap of $27.75 billion, a price-to-earnings ratio of -1,176.50, a P/E/G ratio of 49.02 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last announced 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 firm had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same period in the previous year, the firm posted ($0.07) EPS. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $46.48, for a total value of $185,920.00. Following the completion of the sale, the director owned 189,036 shares in the company, valued at $8,786,393.28. The trade was a 2.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William M. Boyd III sold 25,000 shares of Symbotic stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $49.00, for a total value of $1,225,000.00. Following the completion of the sale, the insider owned 34,544 shares of the company's stock, valued at $1,692,656. This trade represents a 41.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,322 shares of company stock worth $2,684,031 in the last 90 days. 0.60% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings 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 worth $29,000 after purchasing an additional 1,341 shares during the period. Ulland Investment Advisors LLC purchased a new stake in shares of Symbotic during the 1st quarter worth about $31,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Symbotic during the 4th quarter worth about $47,000. CWM LLC grew its holdings in shares of Symbotic by 408.2% during the 1st quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after purchasing an additional 2,090 shares during the period. Finally, AlphaQuest LLC grew its holdings in shares of Symbotic by 318.5% during the 1st quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock worth $57,000 after purchasing an additional 2,131 shares during the period.

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.