Symbotic Inc. (NASDAQ:SYM) Given Consensus Rating of “Hold” by Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have earned a consensus rating of “Hold” from the fifteen analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $39.86.

Several analysts recently weighed in on SYM shares. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. TD Cowen raised their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group lowered their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th.

Symbotic Trading Up 2.7 %

Shares of Symbotic stock opened at $25.13 on Wednesday. The company has a market cap of $14.76 billion, a PE ratio of -418.83 and a beta of 1.76. The company has a 50 day moving average of $28.15 and a 200-day moving average of $27.56. Symbotic has a 1-year low of $17.11 and a 1-year high of $52.20.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.49% 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 period in the prior year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 47.2% on a year-over-year basis. Research analysts forecast that Symbotic will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at $5,145,425.44. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the sale, the insider now owns 23,012 shares in the company, valued at approximately $651,929.96. The trade was a 27.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,844 shares of company stock worth $3,268,431. Insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the business. Armstrong Advisory Group Inc. boosted its position in shares of Symbotic by 122.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock worth $279,000 after purchasing an additional 6,479 shares in the last quarter. 180 Wealth Advisors LLC increased its position in Symbotic by 5.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 38,621 shares of the company’s stock valued at $916,000 after buying an additional 2,063 shares in the last quarter. Capital Market Strategies LLC acquired a new position in Symbotic during the 4th quarter worth approximately $802,000. 1ST Source Bank bought a new position in Symbotic in the third quarter worth approximately $488,000. Finally, Sanctuary Advisors LLC acquired a new stake in Symbotic in the third quarter valued at approximately $1,029,000.

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.