Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $56.7857.

SYM has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $83.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Cantor Fitzgerald increased their price target on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Citigroup boosted their price objective on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Zacks Research cut shares of Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, TD Cowen reiterated a “buy” rating on shares of Symbotic in a research note on Wednesday, December 3rd.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $68.63, for a total transaction of $274,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James Kuffner sold 77,321 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $59.76, for a total value of $4,620,702.96. Following the completion of the sale, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. This trade represents a 34.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,149,307 shares of company stock valued at $382,367,952. Insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MAI Capital Management lifted its position in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. AdvisorNet Financial Inc bought a new position in shares of Symbotic during the second quarter worth approximately $32,000. IAG Wealth Partners LLC acquired a new stake in Symbotic during the 2nd quarter worth approximately $32,000. Ameriflex Group Inc. lifted its holdings in Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after purchasing an additional 660 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Symbotic in the 2nd quarter valued at $39,000.

Symbotic Stock Performance

NASDAQ:SYM opened at $56.20 on Friday. Symbotic has a 52-week low of $16.32 and a 52-week high of $87.88. The company has a market cap of $33.24 billion, a P/E ratio of -374.67, a P/E/G ratio of 15.63 and a beta of 2.13. The stock’s 50-day simple moving average is $64.68 and its 200 day simple moving average is $60.12.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $618.46 million during the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, equities analysts predict that Symbotic will post 0.13 earnings per share for the current fiscal year.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.