Symbotic (NASDAQ:SYM) Trading 1.8% Higher

Symbotic Inc. (NASDAQ:SYM) traded up 1.8% during trading on Tuesday . The company traded as high as $41.13 and last traded at $40.36. 157,456 shares changed hands during trading, a decline of 89% from the average session volume of 1,425,516 shares. The stock had previously closed at $39.66.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, February 6th. The Goldman Sachs Group lowered their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC lowered their target price on Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 7th. Finally, Robert W. Baird lowered their target price on Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Symbotic Stock Up 0.4 %

The stock has a 50-day simple moving average of $43.30 and a 200 day simple moving average of $44.25.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. On average, sell-side analysts expect that Symbotic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael David Dunn sold 7,051 shares of Symbotic stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $45.00, for a total value of $317,295.00. Following the completion of the transaction, the insider now owns 65,646 shares of the company’s stock, valued at approximately $2,954,070. The disclosure for this sale can be found here. Insiders sold 7,106,926 shares of company stock worth $275,324,804 in the last 90 days. 38.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new stake in shares of Symbotic in the 4th quarter valued at $26,000. National Bank of Canada FI increased its stake in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 400 shares during the period. Providence Capital Advisors LLC acquired a new stake in shares of Symbotic in the 3rd quarter valued at $33,000. Pingora Partners LLC acquired a new stake in shares of Symbotic in the 4th quarter valued at $51,000. Finally, Global Retirement Partners LLC increased its stake in shares of Symbotic by 166.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after buying an additional 660 shares during the period.

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.