Symbotic (NASDAQ:SYM) Trading Down 5.6% - Should You Sell?

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) traded down 5.6% during mid-day trading on Monday . The stock traded as low as $51.60 and last traded at $51.51. 847,867 shares traded hands during trading, a decline of 59% from the average session volume of 2,090,655 shares. The stock had previously closed at $54.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SYM shares. Northland Securities increased their price target on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Oppenheimer reiterated an "outperform" rating and issued a $54.00 price objective (up from $35.00) on shares of Symbotic in a report on Wednesday, July 16th. The Goldman Sachs Group reduced their price target 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. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research note on Friday. Finally, BWS Financial reiterated a "sell" rating and issued a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Symbotic currently has an average rating of "Moderate Buy" and a consensus price target of $40.24.

Symbotic Price Performance

The stock has a market capitalization of $29.29 billion, a price-to-earnings ratio of -1,242.00, a PEG ratio of 56.81 and a beta of 2.03. The firm's fifty day moving average is $35.33 and its 200-day moving average is $28.04.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm's revenue was up 39.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, sell-side analysts expect 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 2,706 shares of Symbotic stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $49.00, for a total transaction of $132,594.00. Following the completion of the sale, the director directly owned 23,729 shares in the company, valued at $1,162,721. The trade was a 10.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd Krasnow sold 5,940 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $26.38, for a total transaction of $156,697.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,322 shares of company stock worth $2,807,479. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Symbotic by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,248 shares of the company's stock worth $348,000 after purchasing an additional 3,024 shares during the last quarter. Vanguard Group Inc. increased its stake in Symbotic by 41.3% during the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company's stock valued at $117,846,000 after acquiring an additional 1,452,627 shares during the period. Cetera Investment Advisers raised its holdings in Symbotic by 5.7% in the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock valued at $584,000 after acquiring an additional 1,332 shares in the last quarter. Northern Trust Corp lifted its position in shares of Symbotic by 23.7% in the 4th quarter. Northern Trust Corp now owns 110,148 shares of the company's stock worth $2,612,000 after acquiring an additional 21,077 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Symbotic by 21.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,658 shares of the company's stock worth $316,000 after purchasing an additional 2,737 shares in the last quarter.

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.

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