Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $38.20.

A number of equities analysts have commented on SYM shares. William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Northland Securities lifted their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group decreased their price objective on Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 6th.

Insider Buying and Selling at Symbotic

In other news, insider Michael David Dunn sold 1,971 shares of Symbotic stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the transaction, the insider now directly owns 22,301 shares of the company’s stock, valued at $669,030. The trade was a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction on Monday, March 17th. The shares were sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now directly owns 39,659 shares of the company’s stock, valued at $884,792.29. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,442 shares of company stock worth $2,120,023. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYM. IFP Advisors Inc increased its stake in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after buying an additional 503 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock worth $1,154,000 after purchasing an additional 619 shares in the last quarter. National Bank of Canada FI increased its position in shares of Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock worth $87,000 after purchasing an additional 957 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Symbotic by 40.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock valued at $85,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Symbotic by 5.7% during the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company’s stock worth $584,000 after purchasing an additional 1,332 shares during the last quarter.

Symbotic Stock Performance

Shares of SYM opened at $20.16 on Monday. The company has a 50 day moving average price of $25.53 and a 200-day moving average price of $26.73. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $48.98. The stock has a market capitalization of $11.86 billion, a PE ratio of -287.96, a PEG ratio of 6.48 and a beta of 1.85.

Symbotic (NASDAQ:SYM) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. Equities research analysts forecast that Symbotic will post 0.13 EPS for the current year.

About Symbotic

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.