Symbotic (NASDAQ:SYM) Trading 1% Higher

Symbotic Inc. (NASDAQ:SYM)’s stock price was up 1% during trading on Thursday . The company traded as high as $45.74 and last traded at $45.68. Approximately 236,361 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,581,150 shares. The stock had previously closed at $45.23.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYM. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Tuesday, February 6th. KeyCorp reduced their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, Robert W. Baird reduced their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.85.

Symbotic Stock Down 0.5 %

The company’s fifty day moving average price is $43.76 and its 200-day moving average price is $42.78. The stock has a market capitalization of $25.97 billion, a PE ratio of -169.19 and a beta of 1.90.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Equities research analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction 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. In the last quarter, insiders have sold 7,328,104 shares of company stock worth $285,346,932. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Several hedge funds have recently made changes to their positions in SYM. Van ECK Associates Corp bought a new position in Symbotic during the 4th quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new position in Symbotic during the 4th quarter valued at about $29,000. Providence Capital Advisors LLC bought a new position in Symbotic during the 3rd quarter valued at about $33,000. National Bank of Canada FI grew its stake in Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Symbotic by 1,412.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after acquiring an additional 1,412 shares in the last quarter.

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.