Symbotic (NASDAQ:SYM) Shares Down 1.3% – Time to Sell?

Symbotic Inc. (NASDAQ:SYM) fell 1.3% during mid-day trading on Friday . The company traded as low as $57.03 and last traded at $59.70. 12,402,126 shares were traded during trading, an increase of 473% from the average session volume of 2,165,980 shares. The stock had previously closed at $60.48.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Cantor Fitzgerald upped their price target on Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Needham & Company LLC increased their price target on shares of Symbotic from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Citigroup boosted their price objective on shares of Symbotic from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Finally, Northcoast Research cut shares of Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.07.

Symbotic Stock Down 1.3%

The firm has a 50-day simple moving average of $67.93 and a 200 day simple moving average of $52.27. The company has a market cap of $35.31 billion, a price-to-earnings ratio of -398.00, a price-to-earnings-growth ratio of 20.77 and a beta of 2.10.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The business had revenue of $618.46 million for the quarter, compared to analysts’ expectations of $604.00 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, research analysts expect that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $76.75, for a total transaction of $307,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William M. Boyd III sold 11,735 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $82.09, for a total value of $963,326.15. Following the completion of the transaction, the insider owned 26,769 shares in the company, valued at $2,197,467.21. This trade represents a 30.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 81,508 shares of company stock valued at $6,020,555 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MAI Capital Management increased 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 position in Symbotic in the 2nd quarter valued at $32,000. IAG Wealth Partners LLC acquired a new position in Symbotic in the 2nd quarter valued at $32,000. Ameriflex Group Inc. increased 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 buying an additional 660 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in Symbotic during the 2nd quarter worth $39,000.

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.