Symbotic Inc. (NASDAQ:SYM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Symbotic Inc. (NASDAQ:SYM – Get Rating) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.77.

Several research analysts recently issued reports on the company. Craig Hallum assumed coverage on Symbotic in a research report on Monday, April 17th. They set a “buy” rating and a $35.00 target price on the stock. Citigroup boosted their price objective on Symbotic from $16.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 10th. The Goldman Sachs Group boosted their price objective on Symbotic from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 31st. DA Davidson boosted their price objective on Symbotic from $30.00 to $36.00 in a research report on Wednesday. Finally, Robert W. Baird boosted their target price on Symbotic from $28.00 to $32.00 in a research note on Monday.

Symbotic Stock Performance

Shares of SYM stock opened at $35.34 on Friday. The company has a market cap of $19.63 billion, a P/E ratio of -100.97 and a beta of 1.31. The stock has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $18.05. Symbotic has a fifty-two week low of $8.75 and a fifty-two week high of $35.68.

Symbotic (NASDAQ:SYM – Get Rating) last issued its earnings results on Monday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The business had revenue of $266.85 million during the quarter, compared to the consensus estimate of $224.82 million. Symbotic had a negative return on equity of 78.17% and a negative net margin of 2.26%. The company’s revenue for the quarter was up 177.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($5.61) earnings per share. On average, research analysts predict that Symbotic will post -0.28 earnings per share for the current year.

Insider Activity at Symbotic

In other Symbotic news, insider Michael David Dunn sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $34.54, for a total value of $1,036,200.00. Following the transaction, the insider now directly owns 79,522 shares in the company, valued at approximately $2,746,689.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Rollin L. Ford acquired 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $24.70 per share, for a total transaction of $197,600.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $197,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $34.54, for a total transaction of $1,036,200.00. Following the completion of the transaction, the insider now owns 79,522 shares in the company, valued at $2,746,689.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,188 shares of company stock worth $1,817,565. 41.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Symbotic by 1,412.0% during the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after acquiring an additional 1,412 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Symbotic during the fourth quarter valued at approximately $29,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Symbotic during the first quarter valued at approximately $58,000. Toronto Dominion Bank purchased a new stake in shares of Symbotic during the fourth quarter valued at approximately $36,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Symbotic during the first quarter valued at approximately $87,000. 57.76% of the stock is currently owned by institutional investors.

About Symbotic

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.