Symbotic (NASDAQ:SYM) Stock Price Up 1.5% - Time to Buy?

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s stock price traded up 1.5% on Tuesday . The stock traded as high as $34.00 and last traded at $33.40. 581,065 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,968,038 shares. The stock had previously closed at $32.89.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYM shares. BWS Financial restated a "sell" rating and set a $10.00 price target on shares of Symbotic in a report on Wednesday, April 2nd. Citigroup cut their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Arete Research raised Symbotic to a "strong-buy" rating and set a $50.00 price target on the stock in a research note on Wednesday. The Goldman Sachs Group decreased their target price on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Arete began coverage on shares of Symbotic in a research report on Wednesday. They set a "buy" rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.71.

Symbotic Stock Performance

The company's 50-day simple moving average is $27.47 and its 200 day simple moving average is $25.61. The company has a market cap of $21.97 billion, a PE ratio of -931.68, a PEG ratio of 58.18 and a beta of 1.95.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The company had revenue of $549.65 million for the quarter, compared to analysts' expectations of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. Symbotic's revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. Analysts forecast that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Symbotic

In other news, Director Daniela L. Rus sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the transaction, the director now directly owns 27,435 shares in the company, valued at approximately $823,050. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William M. Boyd III sold 2,455 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $31.07, for a total value of $76,276.85. Following the sale, the insider now directly owns 34,544 shares of the company's stock, valued at approximately $1,073,282.08. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,656 shares of company stock valued at $1,220,907. Insiders own 0.60% of the company's stock.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of SYM. Vanguard Group Inc. boosted its position in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock worth $117,846,000 after acquiring an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Symbotic during the 4th quarter valued at $20,754,000. Cetera Investment Advisers increased its position in shares of Symbotic by 5.7% during the fourth quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock worth $584,000 after acquiring an additional 1,332 shares during the last quarter. Northern Trust Corp increased its holdings in Symbotic by 23.7% during the 4th quarter. Northern Trust Corp now owns 110,148 shares of the company's stock worth $2,612,000 after purchasing an additional 21,077 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after purchasing an additional 1,490 shares in the last quarter.

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.