Symbotic (NASDAQ:SYM – Get Rating) had its price target boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $20.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 63.67% from the company’s current price.
Other equities analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Symbotic from $21.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC lowered their target price on shares of Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James lifted their target price on shares of Symbotic from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Symbotic from $19.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, October 11th. Finally, Northland Securities lifted their target price on shares of Symbotic from $16.00 to $20.00 in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.
Symbotic Stock Up 13.5 %
Shares of SYM opened at $12.22 on Wednesday. Symbotic has a one year low of $8.75 and a one year high of $28.48. The business has a 50-day moving average of $11.63. The stock has a market capitalization of $676.01 million, a price-to-earnings ratio of -1.15 and a beta of 1.24.
Institutional Investors Weigh In On Symbotic
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Symbotic in the 3rd quarter worth approximately $181,000. Alpha Paradigm Partners LLC bought a new stake in Symbotic in the 3rd quarter worth approximately $554,000. Tanaka Capital Management Inc. bought a new stake in Symbotic in the 3rd quarter worth approximately $805,000. Saba Capital Management L.P. grew its position in Symbotic by 458.4% in the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock worth $27,779,000 after purchasing an additional 2,291,828 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Symbotic in the 3rd quarter worth approximately $225,000.
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.
- Get a free copy of the StockNews.com research report on Symbotic (SYM)
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