Symbotic (NASDAQ:SYM) Shares Down 2.2%

Shares of Symbotic Inc. (NASDAQ:SYM) fell 2.2% on Monday . The stock traded as low as $24.60 and last traded at $24.62. 231,468 shares were traded during trading, a decline of 86% from the average session volume of 1,608,894 shares. The stock had previously closed at $25.17.

Wall Street Analyst Weigh In

SYM has been the topic of a number of research reports. Robert W. Baird lowered their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, July 30th. The Goldman Sachs Group cut their price objective on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup lowered their target price on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and an average price target of $43.23.

Symbotic Stock Down 6.0 %

The company’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $35.56. The firm has a market cap of $13.84 billion, a P/E ratio of -102.58 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $491.86 million for the quarter, compared to analyst estimates of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. Equities research analysts predict that Symbotic Inc. will post -0.08 EPS for the current year.

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 17,000 shares of Symbotic stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $21.46, for a total transaction of $364,820.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,593,212.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael David Dunn sold 5,188 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total transaction of $184,122.12. Following the sale, the insider now directly owns 76,808 shares of the company’s stock, valued at $2,725,915.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 17,000 shares of Symbotic stock in a transaction on Monday, August 5th. The shares were sold at an average price of $21.46, for a total transaction of $364,820.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $4,593,212.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,909 shares of company stock worth $1,148,358. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC acquired a new position in Symbotic during the first quarter worth about $37,000. Pingora Partners LLC purchased a new stake in shares of Symbotic in the fourth quarter valued at approximately $51,000. RFP Financial Group LLC increased its holdings in shares of Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares during the last quarter. Quarry LP acquired a new stake in shares of Symbotic in the 2nd quarter worth $65,000. Finally, Natixis Investment Managers International purchased a new position in shares of Symbotic during the 1st quarter worth $90,000.

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.