Symbotic (NASDAQ:SYM) Shares Up 4.2% - Should You Buy?

Key Points

• Symbotic Inc. shares rose by 4.2% during mid-day trading, reaching up to $51.98, with an overall trading volume about 9% lower than average.
• Recent analyst ratings show a mix of opinions, with six analysts rating the stock as a Buy, while the consensus price target is $43.44, reflecting a generally cautious outlook.
• The company reported a 25.9% year-over-year increase in revenue for the quarter, despite posting an EPS loss of ($0.05), which missed estimates by $0.08.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price traded up 4.2% during mid-day trading on Thursday . The company traded as high as $51.98 and last traded at $51.26. 1,777,491 shares were traded during trading, a decline of 9% from the average session volume of 1,943,923 shares. The stock had previously closed at $49.18.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYM. Robert W. Baird downgraded Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 target price on the stock. in a research note on Thursday, August 7th. DA Davidson reiterated a "neutral" rating and issued a $47.00 price objective (up from $35.00) on shares of Symbotic in a research report on Monday, August 25th. Citigroup reiterated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. Oppenheimer lifted their price target on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Arete cut Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price target for the company. in a research note on Friday, July 25th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $43.44.

Symbotic Stock Up 11.3%

The firm has a market capitalization of $33.69 billion, a PE ratio of -814.88 and a beta of 2.05. The company's 50-day simple moving average is $50.76 and its 200 day simple moving average is $35.25.

Symbotic (NASDAQ:SYM - Get Free Report) last announced 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). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company had revenue of $592.12 million during the quarter, compared to analysts' expectations of $533.55 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, sell-side analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, insider William M. Boyd III sold 25,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $59.00, for a total value of $1,475,000.00. Following the completion of the transaction, the insider owned 31,884 shares in the company, valued at approximately $1,881,156. This represents a 43.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rollin L. Ford sold 90,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $51.57, for a total value of $4,641,300.00. Following the completion of the transaction, the director owned 14,507 shares of the company's stock, valued at $748,125.99. The trade was a 86.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 483,032 shares of company stock worth $23,897,448 in the last ninety days. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in Symbotic during the 2nd quarter worth $32,000. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic during the second quarter worth $32,000. Gables Capital Management Inc. acquired a new stake in shares of Symbotic during the second quarter worth $39,000. NewEdge Advisors LLC raised its position in Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company's stock valued at $50,000 after buying an additional 573 shares during the period. Finally, GAMMA Investing LLC raised its position in Symbotic by 1,812.2% during the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the period.

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.