Symbotic (NASDAQ:SYM) Trading Down 5.4% - Time to Sell?

Symbotic Inc. (NASDAQ:SYM - Get Free Report) fell 5.4% during mid-day trading on Tuesday . The stock traded as low as $28.97 and last traded at $28.60. 267,313 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,651,911 shares. The stock had previously closed at $30.24.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYM. UBS Group dropped 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 reaffirmed a "sell" rating and issued a $10.00 price target on shares of Symbotic in a report on Wednesday, April 2nd. The Goldman Sachs Group dropped their price target on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Citigroup dropped their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.20.

Symbotic Stock Up 2.5%

The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of -411.10, a P/E/G ratio of 6.48 and a beta of 1.95. The stock's 50 day moving average price is $24.40 and its two-hundred day moving average price is $25.24.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The company had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. During the same period last year, the company posted ($0.07) earnings per share. The company's revenue was up 39.7% compared to the same quarter last year. On average, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $30.63, for a total transaction of $122,520.00. Following the completion of the sale, the director now directly owns 189,036 shares in the company, valued at $5,790,172.68. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniela L. Rus sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the sale, the director now owns 27,435 shares of the company's stock, valued at $823,050. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,056 shares of company stock worth $1,028,601. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently bought and sold shares of the company. Alberta Investment Management Corp bought a new stake in Symbotic during the fourth quarter valued at about $586,000. Vanguard Group Inc. boosted its holdings in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Raymond James Financial Inc. bought a new stake in Symbotic during the fourth quarter valued at about $20,754,000. Cetera Investment Advisers boosted its holdings in Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock valued at $584,000 after acquiring an additional 1,332 shares during the period. Finally, Northern Trust Corp boosted its holdings in Symbotic by 23.7% during the fourth quarter. Northern Trust Corp now owns 110,148 shares of the company's stock valued at $2,612,000 after acquiring an additional 21,077 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.