Symbotic (NASDAQ:SYM) Stock Price Up 4.1% – Should You Buy?

Symbotic Inc. (NASDAQ:SYM)’s share price was up 4.1% on Wednesday . The company traded as high as $26.83 and last traded at $26.63. Approximately 1,214,552 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 1,636,751 shares. The stock had previously closed at $25.59.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYM. Northland Securities upped their price target on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. UBS Group dropped their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research note on Tuesday, November 19th. Needham & Company LLC cut their target price on shares of Symbotic from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average target price of $40.71.

Symbotic Price Performance

The stock has a market cap of $15.54 billion, a price-to-earnings ratio of -440.83 and a beta of 1.76. The firm’s fifty day moving average price is $28.47 and its two-hundred day moving average price is $27.84.

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. On average, equities research analysts anticipate that Symbotic Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the transaction, the insider now owns 24,055 shares in the company, valued at $723,574.40. The trade was a 72.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now directly owns 214,036 shares of the company’s stock, valued at $5,145,425.44. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,844 shares of company stock worth $3,268,431 in the last quarter. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Capital Market Strategies LLC purchased a new position in Symbotic in the fourth quarter valued at approximately $802,000. 1ST Source Bank bought a new position in Symbotic during the third quarter worth about $488,000. Sanctuary Advisors LLC bought a new stake in shares of Symbotic in the third quarter valued at approximately $1,029,000. Barclays PLC lifted its stake in shares of Symbotic by 1,105.9% during the 3rd quarter. Barclays PLC now owns 9,346 shares of the company’s stock valued at $228,000 after buying an additional 8,571 shares in the last quarter. Finally, TCW Group Inc. grew its stake in Symbotic by 0.8% in the 3rd quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock valued at $9,372,000 after buying an additional 3,075 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.