Symbotic (NASDAQ:SYM) Trading Up 4.4%

Symbotic Inc. (NASDAQ:SYM)’s stock price shot up 4.4% on Monday . The stock traded as high as $43.15 and last traded at $42.92. 702,731 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,372,678 shares. The stock had previously closed at $41.13.

Analyst Ratings Changes

A number of research firms have commented on SYM. Craig Hallum lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Robert W. Baird lifted their price objective on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, KeyCorp cut their target price on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Symbotic Trading Up 4.0 %

The firm has a market capitalization of $27.91 billion, a PE ratio of -179.11 and a beta of 1.97. The business has a 50-day moving average of $43.30 and a 200 day moving average of $44.25.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. The company had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. On average, sell-side analysts expect that Symbotic Inc. will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now directly owns 72,032 shares in the company, valued at approximately $2,881,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael David Dunn sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now directly owns 72,032 shares of the company’s stock, valued at $2,881,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William M. Boyd III sold 8,825 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the transaction, the insider now owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The disclosure for this sale can be found here. Insiders sold 7,110,447 shares of company stock valued at $275,410,529 over the last ninety days. 38.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Van ECK Associates Corp bought a new position in shares of Symbotic during the fourth quarter valued at about $26,000. RiverPark Advisors LLC purchased a new position in Symbotic in the 1st quarter worth approximately $37,000. Providence Capital Advisors LLC bought a new stake in Symbotic in the third quarter valued at approximately $33,000. Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC increased its stake in shares of Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after buying an additional 660 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.