Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares rose 2.9% on Monday . The company traded as high as $70.88 and last traded at $70.48. Approximately 1,022,733 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,984,874 shares. The stock had previously closed at $68.52.
Wall Street Analysts Forecast Growth
SYM has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Symbotic in a report on Tuesday, October 7th. They issued an "underweight" rating and a $38.00 target price on the stock. Northcoast Research set a $65.00 target price on shares of Symbotic and gave the stock a "buy" rating in a report on Thursday, October 2nd. Arete lowered 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, July 25th. Needham & Company LLC upped their target price on shares of Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Symbotic from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $44.61.
View Our Latest Report on Symbotic
Symbotic Stock Performance
The stock has a market cap of $41.62 billion, a PE ratio of -1,006.71, a price-to-earnings-growth ratio of 11.54 and a beta of 2.06. The company's 50 day simple moving average is $54.93 and its 200 day simple moving average is $41.61.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.08). The firm had revenue of $592.12 million during the quarter, compared to analysts' expectations of $533.55 million. Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.
Insider Activity
In other news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $46.45, for a total transaction of $10,219,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.54, for a total transaction of $1,546,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 490,826 shares of company stock worth $25,183,619. 0.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after acquiring an additional 1,341 shares during the period. AdvisorNet Financial Inc bought a new position in Symbotic in the 2nd quarter worth approximately $32,000. IAG Wealth Partners LLC bought a new position in Symbotic in the 2nd quarter worth approximately $32,000. Gables Capital Management Inc. bought a new position in Symbotic in the 2nd quarter worth approximately $39,000. Finally, NewEdge Advisors LLC boosted its holdings in Symbotic by 81.5% in the 2nd quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock worth $50,000 after buying an additional 573 shares during the period.
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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