Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price rose 6.4% on Wednesday . The company traded as high as $34.98 and last traded at $34.26. Approximately 962,107 shares were traded during trading, a decline of 51% from the average daily volume of 1,975,761 shares. The stock had previously closed at $32.20.
Wall Street Analysts Forecast Growth
SYM has been the topic of several analyst reports. Arete Research upgraded Symbotic to a "strong-buy" rating and set a $50.00 price objective on the stock in a report on Wednesday. Arete began coverage on Symbotic in a research report on Wednesday. They issued a "buy" rating and a $50.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Citigroup lowered their target price 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 reissued a "sell" rating and issued a $10.00 price target on shares of Symbotic in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of "Moderate Buy" and an average price target of $38.71.
Read Our Latest Analysis on SYM
Symbotic Stock Performance
The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of -931.25, a PEG ratio of 61.93 and a beta of 1.95. The business has a 50-day moving average of $27.81 and a 200-day moving average of $25.69.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The business had revenue of $549.65 million for the quarter, compared to analyst estimates of $522.36 million. During the same quarter last year, the business earned ($0.07) EPS. Symbotic's revenue for the quarter was up 39.7% compared to the same quarter last year. On average, research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $31.07, for a total value of $76,276.85. Following the transaction, the insider now directly owns 34,544 shares of the company's stock, valued at $1,073,282.08. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 2,040 shares of Symbotic stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the completion of the sale, the insider now owns 23,822 shares of the company's stock, valued at $529,801.28. This trade represents a 7.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,656 shares of company stock worth $1,220,907. Insiders own 0.60% of the company's stock.
Hedge Funds Weigh In On Symbotic
Several large investors have recently modified their holdings of SYM. IFP Advisors Inc increased its stake in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Symbotic by 1,812.2% in the first 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 bought a new position in shares of Symbotic in the 1st quarter worth approximately $31,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Symbotic in the fourth quarter worth $47,000. Finally, Private Trust Co. NA bought a new position in Symbotic in the 4th quarter worth about $47,000.
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.
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