Symbotic (NASDAQ:SYM) Trading Down 4.8% – Time to Sell?

Shares of Symbotic Inc. (NASDAQ:SYM) were down 4.8% during mid-day trading on Thursday . The stock traded as low as $50.73 and last traded at $50.80. Approximately 1,152,789 shares traded hands during trading, a decline of 36% from the average daily volume of 1,795,035 shares. The stock had previously closed at $53.36.

Analyst Ratings Changes

Several equities analysts recently commented on SYM shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research note on Thursday, January 22nd. Zacks Research raised Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Northland Securities set a $73.00 price target on Symbotic in a research report on Thursday, February 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $50.00 price target on shares of Symbotic in a research note on Thursday, January 15th. Finally, UBS Group set a $70.00 price objective on Symbotic in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.71.

Symbotic Stock Performance

The business’s 50 day moving average is $55.74 and its two-hundred day moving average is $61.02. The firm has a market capitalization of $30.59 billion, a PE ratio of -507.95, a price-to-earnings-growth ratio of 5.31 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company had revenue of $629.99 million for the quarter, compared to analysts’ expectations of $622.58 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The company’s revenue was up 29.4% on a year-over-year basis. As a group, equities research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Charles Kane sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.86, for a total value of $191,440.00. Following the completion of the transaction, the director owned 89,852 shares in the company, valued at $4,300,316.72. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rollin L. Ford sold 60,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $3,450,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,492 shares of company stock worth $11,449,123 in the last three months. 8.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the company. MAI Capital Management boosted its holdings in Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. IAG Wealth Partners LLC purchased a new position in shares of Symbotic during the 2nd quarter valued at $32,000. Parkside Financial Bank & Trust increased its holdings in shares of Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the period. Quarry LP purchased a new stake in shares of Symbotic in the fourth quarter worth $36,000. Finally, Parallel Advisors LLC raised its position in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares in the last quarter.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.