Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM – Get Rating) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.00.

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Symbotic from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 31st. DA Davidson set a $20.00 target price on Symbotic in a research note on Thursday, November 24th. Needham & Company LLC upped their target price on Symbotic from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Citigroup reduced their target price on Symbotic from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, November 22nd. Finally, Robert W. Baird set a $18.00 price target on Symbotic in a research report on Tuesday, November 22nd.

Symbotic Trading Up 9.5 %

Shares of NASDAQ:SYM opened at $18.72 on Friday. Symbotic has a 12-month low of $8.75 and a 12-month high of $28.48. The company has a market capitalization of $10.40 billion, a PE ratio of -3.19 and a beta of 1.14. The business has a 50 day moving average of $15.97 and a two-hundred day moving average of $13.20.

Symbotic (NASDAQ:SYM – Get Rating) last announced its earnings results on Monday, January 30th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $206.30 million for the quarter, compared to analyst estimates of $193.70 million. Symbotic had a negative return on equity of 148.57% and a negative net margin of 6.08%. The company’s quarterly revenue was up 167.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.88) earnings per share. Equities research analysts predict that Symbotic will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 20,579 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $16.98, for a total value of $349,431.42. Following the completion of the sale, the insider now directly owns 195,891 shares in the company, valued at approximately $3,326,229.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 46,511 shares of company stock worth $781,379 in the last three months. 41.00% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. purchased a new position in shares of Symbotic during the 4th quarter worth $29,000. Millennium Management LLC purchased a new position in shares of Symbotic during the 4th quarter worth $480,000. HTG Investment Advisors Inc. purchased a new position in shares of Symbotic during the 4th quarter worth $119,000. Geode Capital Management LLC grew its holdings in shares of Symbotic by 19.4% during the 4th quarter. Geode Capital Management LLC now owns 141,490 shares of the company’s stock worth $1,689,000 after purchasing an additional 23,004 shares during the period. Finally, Levin Capital Strategies L.P. grew its holdings in shares of Symbotic by 148.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 36,000 shares of the company’s stock worth $430,000 after purchasing an additional 21,500 shares during the period. 57.76% of the stock is currently owned by hedge funds and other institutional investors.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.