Symbotic (NASDAQ:SYM) Stock Price Up 1.1% - Time to Buy?

Key Points

• Symbotic Inc.'s stock price increased by 1.1% to $52.14, with trading volume significantly lower than the average at approximately 1 million shares.
• Analyst ratings are mixed, with six firms rating the stock as a Buy and several downgrades leading to a consensus rating of "Hold" and an average price target of $43.75.
• The company's last earnings report showed a missed EPS estimate of ($0.05), despite a 25.9% increase in revenue year-over-year, suggesting ongoing operational challenges.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price rose 1.1% during trading on Friday . The company traded as high as $52.67 and last traded at $52.14. Approximately 1,039,521 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 1,972,835 shares. The stock had previously closed at $51.55.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYM. Oppenheimer lifted their price target on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft downgraded Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target for the company. in a research note on Friday, July 18th. DA Davidson reaffirmed a "neutral" rating and set a $47.00 price target (up previously from $35.00) on shares of Symbotic in a research note on Monday, August 25th. Arete Research downgraded Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Robert W. Baird downgraded Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target for the company. in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $43.75.

Symbotic Trading Up 1.1%

The firm's 50 day moving average is $51.08 and its two-hundred day moving average is $36.15. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of -744.75 and a beta of 2.05.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The firm had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same period in the previous year, the firm posted ($0.02) EPS. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities analysts expect that Symbotic Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, insider Maria G. Freve sold 2,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $51.93, for a total transaction of $103,860.00. Following the completion of the sale, the insider owned 1,312 shares in the company, valued at approximately $68,132.16. The trade was a 60.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $45.64, for a total value of $182,560.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 483,032 shares of company stock worth $23,897,448. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in SYM. GAMMA Investing LLC lifted its stake in Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in Symbotic during the first quarter worth $31,000. AdvisorNet Financial Inc bought a new position in Symbotic during the second quarter worth $32,000. IAG Wealth Partners LLC bought a new position in Symbotic during the second quarter worth $32,000. Finally, Gables Capital Management Inc. bought a new position in Symbotic during the second quarter worth $39,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.