Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Hold” from Brokerages

Symbotic Inc. (NASDAQ:SYM) has been assigned an average recommendation of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.20.

A number of research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating and set a $37.00 price objective on shares of Symbotic in a research report on Monday, January 13th. UBS Group lowered their target price on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Raymond James lowered shares of Symbotic from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Finally, DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, January 8th.

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the transaction, the insider now directly owns 24,055 shares in the company, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William M. Boyd III sold 2,660 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total transaction of $73,416.00. Following the completion of the transaction, the insider now owns 40,812 shares of the company’s stock, valued at $1,126,411.20. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,854 shares of company stock valued at $3,986,371 over the last three months. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company’s stock valued at $1,154,000 after acquiring an additional 619 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Symbotic by 36.8% during the third quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Symbotic by 40.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company’s stock valued at $85,000 after acquiring an additional 1,018 shares in the last quarter.

Symbotic Stock Up 3.2 %

SYM stock opened at $22.57 on Thursday. Symbotic has a twelve month low of $17.11 and a twelve month high of $50.40. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of -322.38, a price-to-earnings-growth ratio of 6.48 and a beta of 1.79. The firm’s fifty day simple moving average is $26.91 and its two-hundred day simple moving average is $26.54.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities research analysts expect that Symbotic will post 0.13 EPS for the current year.

About Symbotic

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.