Craig Hallum Downgrades Symbotic (NASDAQ:SYM) to Hold

Craig Hallum lowered shares of Symbotic (NASDAQ:SYMFree Report) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat reports. They currently have $25.00 target price on the stock.

A number of other research firms have also recently weighed in on SYM. BWS Financial reissued a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lowered their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. KeyCorp restated a “sector weight” rating on shares of Symbotic in a research note on Wednesday. Finally, Robert W. Baird decreased their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.69.

View Our Latest Stock Analysis on Symbotic

Symbotic Price Performance

SYM opened at $24.00 on Wednesday. The firm has a market capitalization of $14.05 billion, a PE ratio of -400.00 and a beta of 1.81. The business’s 50-day moving average is $28.96 and its two-hundred day moving average is $30.77. Symbotic has a 1 year low of $17.11 and a 1 year high of $59.82.

Symbotic (NASDAQ:SYMGet Free Report) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. Symbotic’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. As a group, sell-side analysts expect that Symbotic will post 0.2 EPS for the current year.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55. Following the sale, the insider now directly owns 87,922 shares in the company, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $28.15, for a total value of $56,300.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $6,025,113.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock valued at $1,378,056 in the last 90 days. 38.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its holdings in Symbotic by 32.0% in the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after buying an additional 3,410,050 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after acquiring an additional 345,386 shares in the last quarter. Thematics Asset Management increased its position in shares of Symbotic by 30.1% during the third quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock worth $25,565,000 after purchasing an additional 242,661 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after purchasing an additional 379,726 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares in the last quarter.

Symbotic Company Profile

(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.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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