Symbotic (NASDAQ:SYM) Shares Up 0.1%

Symbotic Inc. (NASDAQ:SYMGet Free Report)’s stock price shot up 0.1% during trading on Wednesday . The stock traded as high as $44.87 and last traded at $44.45. 105,194 shares changed hands during trading, a decline of 93% from the average session volume of 1,549,815 shares. The stock had previously closed at $44.39.

Analyst Ratings Changes

Several research firms recently commented on SYM. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 7th. Robert W. Baird dropped their price objective on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Needham & Company LLC dropped their price objective on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Symbotic presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

Get Our Latest Research Report on Symbotic

Symbotic Stock Performance

The company’s fifty day simple moving average is $43.83 and its 200-day simple moving average is $43.19. The company has a market capitalization of $25.73 billion, a P/E ratio of -164.63 and a beta of 1.91.

Symbotic (NASDAQ:SYMGet Free Report) last issued its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million for the quarter, compared to analysts’ expectations of $370.28 million. On average, sell-side analysts predict that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,250,026 shares of company stock valued at $281,699,956 in the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new position in shares of Symbotic in the 4th quarter valued at $26,000. National Bank of Canada FI lifted its stake in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 400 shares during the period. Providence Capital Advisors LLC acquired a new position in shares of Symbotic in the 3rd quarter valued at $33,000. Pingora Partners LLC acquired a new position in shares of Symbotic in the 4th quarter valued at $51,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of Symbotic in the 4th quarter valued at $62,000.

About Symbotic

(Get Free Report)

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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