Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares were down 2.8% during trading on Thursday . The company traded as low as $49.33 and last traded at $51.55. Approximately 1,624,137 shares were traded during trading, a decline of 18% from the average daily volume of 1,977,926 shares. The stock had previously closed at $53.02.
Wall Street Analyst Weigh In
SYM has been the topic of a number of recent research reports. Citigroup restated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. Northland Securities upped their target price on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. UBS Group reaffirmed a "sell" rating and set a $35.00 price objective (up from $27.00) on shares of Symbotic in a report on Tuesday. Wall Street Zen raised shares of Symbotic from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target for the company. in a report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Symbotic has a consensus rating of "Hold" and a consensus price target of $43.75.
Get Our Latest Report on SYM
Symbotic Stock Down 2.8%
The company's fifty day moving average price is $51.14 and its two-hundred day moving average price is $35.94. The company has a market cap of $30.44 billion, a price-to-earnings ratio of -736.32 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) EPS for the quarter, missing the consensus estimate 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 business had revenue of $592.12 million for the quarter, compared to analyst estimates of $533.55 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities research analysts predict that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.
Insider Buying and Selling at Symbotic
In other Symbotic news, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $46.45, for a total value of $10,219,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William M. Boyd III sold 25,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $59.00, for a total transaction of $1,475,000.00. Following the completion of the sale, the insider owned 31,884 shares of the company's stock, valued at approximately $1,881,156. This represents a 43.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 483,032 shares of company stock valued at $23,897,448 in the last three months. 0.60% of the stock is currently owned by insiders.
Institutional Trading of Symbotic
A number of hedge funds have recently modified their holdings of SYM. GAMMA Investing LLC raised its stake in Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Symbotic in the 1st quarter worth about $31,000. AdvisorNet Financial Inc bought a new position in Symbotic in the 2nd quarter valued at about $32,000. IAG Wealth Partners LLC bought a new position in Symbotic in the 2nd quarter valued at about $32,000. Finally, Gables Capital Management Inc. bought a new position in Symbotic in the 2nd quarter valued at about $39,000.
About Symbotic
(
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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.
Further Reading
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