Symbotic (NASDAQ:SYM) Shares Up 5.8% – Should You Buy?
by Jessica Moore · The Cerbat GemSymbotic Inc. (NASDAQ:SYM – Get Free Report) shot up 5.8% on Monday . The company traded as high as $70.03 and last traded at $68.62. 2,690,478 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 2,508,722 shares. The stock had previously closed at $64.87.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on SYM shares. DA Davidson reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Symbotic in a report on Tuesday, November 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research note on Wednesday, October 8th. UBS Group reiterated a “sell” rating and set a $35.00 target price (up previously from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. Northland Securities boosted their price target on Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, Cantor Fitzgerald increased their price objective on Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and a consensus target price of $56.50.
Get Our Latest Analysis on Symbotic
Symbotic Stock Up 5.8%
The stock has a market capitalization of $40.59 billion, a PE ratio of -457.47, a PEG ratio of 18.40 and a beta of 2.13. The firm’s fifty day moving average is $65.52 and its 200-day moving average is $57.34.
Symbotic (NASDAQ:SYM – Get Free Report) last released its earnings results 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 business had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.
Insider Buying and Selling
In related news, insider William M. Boyd III sold 2,455 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $60.51, for a total transaction of $148,552.05. Following the sale, the insider owned 24,314 shares of the company’s stock, valued at approximately $1,471,240.14. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Merline Saintil sold 9,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $84.72, for a total transaction of $762,480.00. Following the completion of the transaction, the director directly owned 68,413 shares of the company’s stock, valued at approximately $5,795,949.36. This trade represents a 11.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,081,508 shares of company stock valued at $378,530,853 in the last quarter. Corporate insiders own 0.60% of the company’s stock.
Hedge Funds Weigh In On Symbotic
Several hedge funds have recently bought and sold shares of SYM. MAI Capital Management boosted its position in Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Symbotic in the 2nd quarter worth about $32,000. IAG Wealth Partners LLC purchased a new stake in shares of Symbotic in the 2nd quarter worth about $32,000. Ameriflex Group Inc. grew its stake in Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after acquiring an additional 660 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new position in Symbotic during the second quarter worth about $39,000.
Symbotic Company Profile
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.