Symbotic (NASDAQ:SYM) Trading 7.5% Higher - What's Next?

Key Points

• Shares of Symbotic Inc. (NASDAQ:SYM) rose 7.5% during mid-day trading, closing at $67.84, after having previously closed at $63.10.
• Research firms have mixed ratings for Symbotic, with seven analysts giving it a Buy rating, thirteen a Hold rating, and two a Sell rating, leading to an average rating of "Hold."
• Symbotic reported a revenue increase of 25.9% year-over-year, totaling $592.12 million, but missed earnings expectations by posting a loss of $(0.05) earnings per share.

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) shot up 7.5% during mid-day trading on Monday . The company traded as high as $69.00 and last traded at $67.84. 2,490,906 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 1,979,265 shares. The stock had previously closed at $63.10.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYM. Arete Research lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Northland Securities upped their target price on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Northcoast Research set a $65.00 price target on shares of Symbotic and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen cut Symbotic from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Finally, Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 1st. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Symbotic has an average rating of "Hold" and a consensus target price of $45.00.

Symbotic Stock Performance

The business's 50 day moving average price is $51.99 and its two-hundred day moving average price is $38.19. The company has a market capitalization of $40.06 billion, a price-to-earnings ratio of -969.00, a price-to-earnings-growth ratio of 12.23 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.08). Symbotic had a negative return on equity of 2.02% and a negative net margin of 0.38%.The firm had revenue of $592.12 million during the quarter, compared to analyst estimates of $533.55 million. During the same quarter last year, the company earned ($0.02) earnings per share. The business's revenue for the quarter was up 25.9% on a year-over-year basis. On average, sell-side analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $45.64, for a total transaction of $182,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William M. Boyd III sold 2,455 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $50.58, for a total transaction of $124,173.90. Following the sale, the insider owned 29,429 shares of the company's stock, valued at $1,488,518.82. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 479,032 shares of company stock worth $23,711,528 in the last ninety days. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Symbotic by 26.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,801 shares of the company's stock worth $1,750,000 after purchasing an additional 15,394 shares during the period. GAMMA Investing LLC boosted its position in shares of Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the period. Bourne Lent Asset Management Inc. increased its stake in Symbotic by 1.3% in the 1st quarter. Bourne Lent Asset Management Inc. now owns 88,360 shares of the company's stock worth $1,786,000 after purchasing an additional 1,150 shares in the last quarter. SG Americas Securities LLC raised its holdings in Symbotic by 44.1% during the 1st quarter. SG Americas Securities LLC now owns 33,986 shares of the company's stock worth $687,000 after buying an additional 10,401 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new stake in Symbotic during the 1st quarter worth about $31,000.

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.

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