Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.73.

A number of research analysts have recently weighed in on SYM shares. BWS Financial restated a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. TD Cowen raised their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Citigroup reaffirmed a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Finally, Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday, November 27th.

Insider Activity

In related news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,844 shares of company stock worth $3,268,431 in the last quarter. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Castleview Partners LLC raised its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic in the 3rd quarter valued at about $49,000. RiverPark Advisors LLC lifted its holdings in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Symbotic during the second quarter valued at approximately $65,000.

Symbotic Price Performance

Shares of SYM opened at $29.76 on Wednesday. The company has a market capitalization of $17.48 billion, a price-to-earnings ratio of -496.00 and a beta of 1.76. The business’s 50-day moving average is $27.96 and its 200-day moving average is $27.43. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $52.20.

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

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.