Symbotic (NASDAQ:SYM) Trading Up 1.2%

Symbotic Inc. (NASDAQ:SYM) shares traded up 1.2% during mid-day trading on Wednesday . The company traded as high as $25.87 and last traded at $25.25. 815,066 shares changed hands during trading, a decline of 49% from the average session volume of 1,585,524 shares. The stock had previously closed at $24.96.

Analyst Ratings Changes

Several equities research analysts recently commented on SYM shares. KeyCorp lowered their price target on Symbotic from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. TD Cowen dropped their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group decreased 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. Robert W. Baird dropped their target price on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and a consensus target price of $43.23.

Symbotic Stock Up 0.1 %

The business has a 50-day moving average price of $26.37 and a 200-day moving average price of $35.90. The firm has a market capitalization of $14.61 billion, a P/E ratio of -105.21 and a beta of 1.81.

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

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 5,188 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $184,122.12. Following the completion of the sale, the insider now directly owns 76,808 shares of the company’s stock, valued at approximately $2,725,915.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael David Dunn sold 5,188 shares of Symbotic stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $184,122.12. Following the completion of 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 SEC, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total transaction of $70,980.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $70,980. The disclosure for this sale can be found here. Insiders sold 38,909 shares of company stock worth $1,148,358 in the last quarter. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

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