Symbotic (NASDAQ:SYM) Trading 0.4% Higher

Symbotic Inc. (NASDAQ:SYM)’s stock price traded up 0.4% during mid-day trading on Friday . The company traded as high as $40.26 and last traded at $40.25. 249,829 shares were traded during trading, a decline of 83% from the average session volume of 1,439,942 shares. The stock had previously closed at $40.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northland Securities increased their price objective on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. Needham & Company LLC decreased their price target on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. The Goldman Sachs Group reduced their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, KeyCorp reduced their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Symbotic Stock Performance

The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of -147.15 and a beta of 1.91. The company has a fifty day simple moving average of $43.63 and a two-hundred day simple moving average of $44.09.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, equities analysts anticipate that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now owns 62,312 shares of the company’s stock, valued at approximately $2,787,838.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The disclosure for this sale can be found here. Insiders sold 7,188,628 shares of company stock valued at $279,026,777 in the last three months. Corporate insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in Symbotic in the 4th quarter worth about $26,000. National Bank of Canada FI increased its holdings in Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Symbotic in the 3rd quarter worth about $33,000. Pingora Partners LLC acquired a new position in Symbotic in the 4th quarter worth about $51,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of Symbotic in the 4th quarter valued at about $62,000.

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.