Symbotic (NASDAQ:SYM) Trading Up 1.1%

Symbotic Inc. (NASDAQ:SYMGet Free Report) shares rose 1.1% on Wednesday . The company traded as high as $34.62 and last traded at $34.48. Approximately 1,841,442 shares were traded during trading, an increase of 68% from the average daily volume of 1,093,198 shares. The stock had previously closed at $34.12.

Analyst Upgrades and Downgrades

SYM has been the topic of a number of recent research reports. Craig Hallum boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Symbotic in a research report on Friday, May 10th. Robert W. Baird boosted their price target on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.69.

Check Out Our Latest Stock Analysis on SYM

Symbotic Stock Performance

The stock has a market cap of $20.16 billion, a PE ratio of -143.66 and a beta of 1.92. The stock’s 50-day moving average is $40.89 and its two-hundred day moving average is $44.10.

Symbotic (NASDAQ:SYMGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. The firm had revenue of $424.30 million during the quarter, compared to analysts’ expectations of $415.98 million. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. Analysts forecast that Symbotic Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Janet L. Cohen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $43.26, for a total transaction of $1,081,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, major shareholder David A. Ladensohn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Janet L. Cohen sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $43.26, for a total transaction of $1,081,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,214 shares of company stock valued at $6,030,760. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp acquired a new stake in shares of Symbotic in the 4th quarter valued at $26,000. Providence Capital Advisors LLC acquired a new stake in shares of Symbotic in the 3rd quarter valued at $33,000. RiverPark Advisors LLC acquired a new stake in shares of Symbotic in the 1st quarter valued at $37,000. Global Retirement Partners LLC raised its holdings in shares of Symbotic by 166.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares in the last quarter. Finally, Pingora Partners LLC acquired a new stake in shares of Symbotic in the 4th quarter valued at $51,000.

Symbotic Company Profile

(Get Free Report)

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.

Further Reading

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