Symbotic Inc. (NASDAQ:SYM - Get Free Report) traded up 1% during trading on Thursday . The stock traded as high as $55.44 and last traded at $54.62. 652,020 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 1,903,774 shares. The stock had previously closed at $54.08.
Analysts Set New Price Targets
Several brokerages recently weighed in on SYM. Arete cut shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price on the stock. in a report on Friday. Northland Securities raised their target price on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a report on Monday, July 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, Deutsche Bank Aktiengesellschaft cut shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $39.94.
Get Our Latest Analysis on Symbotic
Symbotic Stock Down 2.7%
The company has a 50 day moving average of $37.31 and a two-hundred day moving average of $28.71. The firm has a market cap of $30.64 billion, a P/E ratio of -1,297.38, a PEG ratio of 56.33 and a beta of 2.03.
Symbotic (NASDAQ:SYM - Get Free Report) last released 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 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 business earned ($0.07) EPS. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. Research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Insider Transactions at Symbotic
In related news, Director Todd Krasnow sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $46.48, for a total value of $185,920.00. Following the transaction, the director directly owned 189,036 shares of the company's stock, valued at approximately $8,786,393.28. This trade represents a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Boyd III sold 2,660 shares of Symbotic stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $48.86, for a total value of $129,967.60. Following the completion of the transaction, the insider directly owned 31,884 shares in the company, valued at approximately $1,557,852.24. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,393 shares of company stock valued at $2,765,639 in the last three months. Corporate insiders own 0.60% of the company's stock.
Institutional Trading of Symbotic
Several institutional investors have recently modified their holdings of SYM. HighTower Advisors LLC boosted its stake in Symbotic by 13.0% in the 4th quarter. HighTower Advisors LLC now owns 26,371 shares of the company's stock valued at $625,000 after buying an additional 3,033 shares in the last quarter. Swiss National Bank boosted its stake in Symbotic by 2.4% in the 4th quarter. Swiss National Bank now owns 81,700 shares of the company's stock valued at $1,937,000 after buying an additional 1,900 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Symbotic by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock valued at $1,154,000 after buying an additional 619 shares in the last quarter. Sei Investments Co. acquired a new stake in Symbotic in the 4th quarter valued at $1,383,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Symbotic in the 4th quarter valued at $194,000.
About Symbotic
(
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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