Symbotic (NASDAQ:SYM) Stock Price Up 1.8%

Symbotic Inc. (NASDAQ:SYM) shot up 1.8% during trading 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Northland Securities boosted their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Robert W. Baird dropped their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group reduced their price target on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, February 6th. Finally, DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Symbotic Trading Up 2.6 %

The stock has a market cap of $23.49 billion, a PE ratio of -151.52 and a beta of 1.91. The company’s 50 day moving average is $43.49 and its 200-day moving average is $44.24.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. As a group, analysts forecast that Symbotic Inc. will post -0.02 EPS for the current year.

Insider Activity

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.20, for a total value of $84,400.00. Following the completion of the transaction, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $440,863.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael David Dunn sold 7,504 shares of Symbotic stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $41.56, for a total value of $311,866.24. Following the sale, the insider now directly owns 72,768 shares in the company, valued at approximately $3,024,238.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.20, for a total transaction of $84,400.00. Following the completion of the sale, the director now owns 10,447 shares in the company, valued at $440,863.40. The disclosure for this sale can be found here. In the last three months, insiders sold 7,114,430 shares of company stock valued at $275,636,670. Company insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in shares of Symbotic in the 4th quarter worth approximately $26,000. Providence Capital Advisors LLC bought a new stake in shares of Symbotic in the 3rd quarter worth approximately $33,000. National Bank of Canada FI raised its holdings in shares of Symbotic by 66.7% in the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares in the last quarter. Pingora Partners LLC bought a new stake in shares of Symbotic in the 4th quarter worth approximately $51,000. Finally, Centerpoint Advisors LLC purchased a new position in Symbotic during the fourth quarter valued at approximately $62,000.

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.