Symbotic (NASDAQ:SYM) Trading 1.8% Higher

Symbotic Inc. (NASDAQ:SYM) shot up 1.8% on Tuesday . The company traded as high as $41.13 and last traded at $40.36. 157,456 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,425,516 shares. The stock had previously closed at $39.66.

Analyst Ratings Changes

A number of research firms recently weighed in on SYM. Needham & Company LLC decreased their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Robert W. Baird decreased their price objective on Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, DA Davidson upgraded Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Symbotic Trading Up 0.4 %

The stock has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $44.25.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Sell-side analysts predict that Symbotic Inc. will post -0.02 earnings per share for the current year.

Insider Activity

In other news, insider Michael David Dunn sold 7,051 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $45.00, for a total value of $317,295.00. Following the completion of the sale, the insider now directly owns 65,646 shares in the company, valued at approximately $2,954,070. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 7,051 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $45.00, for a total transaction of $317,295.00. Following the completion of the transaction, the insider now directly owns 65,646 shares in the company, valued at approximately $2,954,070. The disclosure for this sale can be found here. Insiders sold a total of 7,106,926 shares of company stock worth $275,324,804 in the last three months. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Several large investors have recently added to or reduced their stakes in SYM. Van ECK Associates Corp bought a new position in shares of Symbotic during the 4th quarter worth approximately $26,000. Providence Capital Advisors LLC bought a new position in shares of Symbotic during the 3rd quarter worth approximately $33,000. National Bank of Canada FI lifted its position in shares of Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after buying an additional 400 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after buying an additional 660 shares in the last quarter. Finally, Pingora Partners LLC bought a new position in shares of Symbotic during the 4th quarter worth approximately $51,000.

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.