Symbotic (NASDAQ:SYM) Trading Up 8.9% - Should You Buy?

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

Wall Street Analyst Weigh In

SYM has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Citigroup dropped their target price on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 14th. BWS Financial reaffirmed a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd. Finally, UBS Group dropped their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.20.

Symbotic Trading Up 14.6%

The firm has a market cap of $21.05 billion, a price-to-earnings ratio of -892.50, a price-to-earnings-growth ratio of 59.50 and a beta of 1.95. The stock's 50 day moving average is $25.79 and its 200 day moving average is $25.30.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same quarter last year, the company posted ($0.07) EPS. The firm's quarterly revenue was up 39.7% on a year-over-year basis. On average, equities research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, insider William M. Boyd III sold 2,455 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $31.07, for a total transaction of $76,276.85. Following the transaction, the insider now owns 34,544 shares in the company, valued at $1,073,282.08. This represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 2,040 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $22.24, for a total transaction of $45,369.60. Following the transaction, the insider now owns 23,822 shares in the company, valued at approximately $529,801.28. The trade was a 7.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,056 shares of company stock worth $1,198,707. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Symbotic by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after acquiring an additional 619 shares during the period. Swiss National Bank lifted its holdings in shares of Symbotic by 0.9% during the 1st quarter. Swiss National Bank now owns 82,400 shares of the company's stock worth $1,665,000 after acquiring an additional 700 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Symbotic by 4.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,208 shares of the company's stock worth $348,000 after acquiring an additional 757 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Symbotic by 8.0% during the 1st quarter. Spire Wealth Management now owns 13,596 shares of the company's stock worth $275,000 after acquiring an additional 1,012 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.