Symbotic (NASDAQ:SYM) Stock Price Down 4.5% – Here’s Why

Shares of Symbotic Inc. (NASDAQ:SYM) fell 4.5% during trading on Monday . The stock traded as low as $25.28 and last traded at $25.65. 508,088 shares changed hands during trading, a decline of 72% from the average session volume of 1,799,709 shares. The stock had previously closed at $26.87.

Analyst Ratings Changes

A number of analysts have recently weighed in on SYM shares. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Tuesday, November 19th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. TD Cowen upped their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. Finally, Northland Securities raised their price objective on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Symbotic currently has a consensus rating of “Moderate Buy” and an average price target of $42.54.

Symbotic Stock Performance

The company has a market capitalization of $15.95 billion, a P/E ratio of -447.83 and a beta of 1.73. The firm’s fifty day moving average is $29.55 and its 200-day moving average is $29.30.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter last year, the firm posted ($0.08) EPS. Symbotic’s revenue was up 47.2% compared to the same quarter last year. As a group, analysts expect that Symbotic Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the sale, the insider now directly owns 24,055 shares in the company, valued at $723,574.40. This represents a 72.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,745 shares of company stock worth $3,261,675 in the last quarter. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Castleview Partners LLC increased its stake in shares of Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Arcadia Investment Management Corp MI bought a new position in Symbotic in the third quarter worth $49,000. RiverPark Advisors LLC grew its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the last quarter. RFP Financial Group LLC grew its position in Symbotic by 22.4% during the 2nd 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. Finally, Quest Partners LLC increased its stake in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter.

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.