Symbotic Inc. (NASDAQ:SYM – Get Rating)’s share price traded up 5.8% during trading on Thursday after DA Davidson raised their price target on the stock from $30.00 to $36.00. The company traded as high as $34.16 and last traded at $34.07. 105,110 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 521,443 shares. The stock had previously closed at $32.20.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $31.00 to $36.00 in a research note on Monday. The Goldman Sachs Group lifted their target price on Symbotic from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 31st. Cantor Fitzgerald lifted their price target on Symbotic from $24.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Needham & Company LLC lifted their price target on Symbotic from $25.00 to $31.00 in a research note on Tuesday, May 2nd. Finally, Raymond James lifted their target price on Symbotic from $23.00 to $35.00 in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and an average target price of $28.77.
Insider Buying and Selling
In other Symbotic news, Director Rollin L. Ford purchased 8,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $24.70 per share, for a total transaction of $197,600.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $197,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Rollin L. Ford acquired 8,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was 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 directly owns 8,000 shares in the company, valued at approximately $197,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael David Dunn sold 2,815 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $23.29, for a total transaction of $65,561.35. Following the sale, the insider now owns 146,819 shares of the company’s stock, valued at $3,419,414.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,188 shares of company stock valued at $1,817,565. Insiders own 41.00% of the company’s stock.
Institutional Trading of Symbotic
Symbotic Stock Up 9.8 %
The firm has a market capitalization of $19.63 billion, a P/E ratio of -100.97 and a beta of 1.31. The firm’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $18.05.
Symbotic (NASDAQ:SYM – Get Rating) last announced its quarterly earnings data 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 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. As a group, analysts expect that Symbotic Inc. will post -0.28 EPS for the current fiscal year.
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.
- Get a free copy of the StockNews.com research report on Symbotic (SYM)
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