Symbotic (NASDAQ:SYM) Stock Price Down 8.6% - What's Next?

Key Points

• Shares fell 8.6% to $51.56 after Symbotic missed EPS (reported $0.01 vs. $0.12 expected) despite a revenue beat of $676.48M, and volume was ~975,146 shares (41% below average).
• The stock carries a consensus "Hold" rating with an average price target of $65.62 amid mixed analyst views (7 Buy / 6 Hold / 3 Sell), while insiders sold roughly 157,581 shares (~$9.11M) over the past three months under 10b5‑1 plans.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price dropped 8.6% on Friday . The company traded as low as $51.50 and last traded at $51.56. Approximately 975,146 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,663,450 shares. The stock had previously closed at $56.43.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group restated a "sell" rating and set a $50.00 price objective on shares of Symbotic in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of Symbotic from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Northland Securities set a $73.00 price target on shares of Symbotic in a research note on Thursday, February 5th. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Symbotic in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.62.

Symbotic Price Performance

The company has a 50-day simple moving average of $54.84 and a 200-day simple moving average of $60.63. The stock has a market cap of $30.97 billion, a PE ratio of -1,030.99, a PEG ratio of 6.13 and a beta of 2.03.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.79% and a negative net margin of 0.20%.The company had revenue of $676.48 million for the quarter, compared to analysts' expectations of $662.66 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Symbotic's revenue for the quarter was up 23.1% on a year-over-year basis. On average, equities analysts expect that Symbotic Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at Symbotic

In related news, Director Charles Kane sold 2,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $58.26, for a total transaction of $116,520.00. Following the sale, the director owned 89,852 shares of the company's stock, valued at approximately $5,234,777.52. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $57.61, for a total transaction of $115,220.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 157,581 shares of company stock valued at $9,113,457. 8.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently modified their holdings of SYM. Royal Bank of Canada raised its holdings in Symbotic by 28.8% during the first quarter. Royal Bank of Canada now owns 84,856 shares of the company's stock worth $1,714,000 after purchasing an additional 18,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Symbotic by 15.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company's stock valued at $1,716,000 after purchasing an additional 11,098 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Symbotic in the second quarter valued at $804,000. Invesco Ltd. increased its position in shares of Symbotic by 33.2% in the second quarter. Invesco Ltd. now owns 304,207 shares of the company's stock valued at $11,818,000 after buying an additional 75,828 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Symbotic in the second quarter valued at $267,000.

About Symbotic

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

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