Symbotic (NASDAQ:SYM) Trading Up 4.1% – Should You Buy?

Symbotic Inc. (NASDAQ:SYM)’s share price was up 4.1% during trading on Wednesday . The company traded as high as $26.83 and last traded at $26.63. Approximately 1,214,552 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 1,636,751 shares. The stock had previously closed at $25.59.

Analyst Ratings Changes

A number of analysts recently commented on SYM shares. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Northland Securities boosted their price target on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group decreased their target price on Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic has an average rating of “Hold” and a consensus target price of $40.71.

Symbotic Stock Down 3.3 %

The stock has a market cap of $15.03 billion, a P/E ratio of -426.50 and a beta of 1.76. The business has a 50 day moving average price of $28.32 and a 200 day moving average price of $27.77.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. During the same period last year, the business posted ($0.08) EPS. Symbotic’s quarterly revenue was up 47.2% on a year-over-year basis. On average, research analysts expect that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,715 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William M. Boyd III sold 8,826 shares of Symbotic stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the sale, the insider now owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. The trade was a 27.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,844 shares of company stock valued at $3,268,431. Corporate insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of large investors have recently added to or reduced their stakes in SYM. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Symbotic during the third quarter worth $49,000. RiverPark Advisors LLC increased its stake in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares during the period. Finally, Quarry LP acquired a new position in shares of Symbotic during the 2nd quarter valued at about $65,000.

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.