Symbotic (NASDAQ:SYM) Shares Up 8.9% - What's Next?

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price traded up 8.9% during mid-day trading on Monday . The company traded as high as $30.20 and last traded at $30.47. 594,649 shares traded hands during trading, a decline of 69% from the average session volume of 1,932,445 shares. The stock had previously closed at $27.97.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. UBS Group lowered their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research report on Wednesday, April 2nd. Finally, Citigroup reduced their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $37.20.

Symbotic Stock Up 15.7%

The stock has a market cap of $19.07 billion, a price-to-earnings ratio of -461.25, a price-to-earnings-growth ratio of 6.48 and a beta of 1.95. The company's 50-day moving average is $25.01 and its 200-day moving average is $25.15.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $549.65 million during the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Symbotic's revenue was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, research analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniela L. Rus sold 1,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the completion of the transaction, the director now directly owns 27,435 shares in the company, valued at approximately $823,050. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $29.65, for a total transaction of $118,600.00. Following the completion of the sale, the director now owns 189,036 shares in the company, valued at $5,604,917.40. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,601 shares of company stock valued at $1,092,430. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in Symbotic by 58.2% in the fourth 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 boosted its holdings in shares of Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in Symbotic during the first quarter worth $31,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic during the fourth quarter worth $47,000. Finally, Private Trust Co. NA acquired a new stake in Symbotic in the 4th quarter valued at about $47,000.

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.

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