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

Symbotic Inc. (NASDAQ:SYM) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $44.31.

Several equities analysts have recently issued reports on SYM shares. TD Cowen cut their price objective on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. BWS Financial reaffirmed a “sell” rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. Citigroup dropped their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC boosted their price target on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at $651,929.96. This represents a 27.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at $4,013,175. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,878 shares of company stock worth $1,378,056. 38.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently made changes to their positions in the company. Castleview Partners LLC raised its position in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Symbotic in the 3rd quarter valued at about $49,000. RiverPark Advisors LLC lifted its stake in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. RFP Financial Group LLC boosted its holdings in shares of Symbotic by 22.4% during the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after purchasing an additional 310 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter.

Symbotic Stock Down 3.4 %

Shares of SYM opened at $37.47 on Tuesday. The company has a 50 day moving average of $28.73 and a two-hundred day moving average of $30.85. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82. The company has a market cap of $21.94 billion, a price-to-earnings ratio of -624.50 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 47.2% on a year-over-year basis. On average, sell-side analysts expect that Symbotic will post 0.36 EPS for the current year.

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.