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

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $56.50.

Several research analysts have commented on SYM shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Citigroup raised their target price on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Oppenheimer reiterated an “outperform” rating and set a $83.00 price target on shares of Symbotic in a report on Tuesday, November 25th. Wall Street Zen raised shares of Symbotic from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st.

Insider Buying and Selling

In other news, major shareholder David A. Ladensohn sold 23,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $66.75, for a total value of $1,535,250.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at approximately $333,750. This represents a 82.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William M. Boyd III sold 11,735 shares of Symbotic stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $82.09, for a total transaction of $963,326.15. Following the sale, the insider owned 26,769 shares of the company’s stock, valued at $2,197,467.21. The trade was a 30.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,081,508 shares of company stock worth $378,530,853 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of SYM. MAI Capital Management boosted its holdings in shares of Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. AdvisorNet Financial Inc purchased a new stake in shares of Symbotic in the 2nd quarter worth $32,000. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic in the 2nd quarter worth $32,000. Ameriflex Group Inc. grew its position in shares of 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 buying an additional 660 shares in the last quarter. Finally, Gables Capital Management Inc. purchased a new position in shares of Symbotic during the second quarter valued at $39,000.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $64.87 on Wednesday. Symbotic has a 1-year low of $16.32 and a 1-year high of $87.88. The business’s 50 day moving average is $65.56 and its two-hundred day moving average is $57.11. The stock has a market capitalization of $38.37 billion, a P/E ratio of -432.47, a PEG ratio of 18.40 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Symbotic’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, equities research analysts anticipate that Symbotic will post 0.13 earnings per share for the current fiscal year.

About Symbotic

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.