Symbotic Inc. (NASDAQ:SYM) Given Consensus Rating of "Moderate Buy" by Brokerages

Symbotic Inc. (NASDAQ:SYM - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $43.23.

Several brokerages have recently commented on SYM. Robert W. Baird lowered their target price on shares of Symbotic from $53.00 to $41.00 and set an "outperform" rating on the stock in a report on Wednesday, July 31st. BWS Financial reiterated a "sell" rating and set a $10.00 target price on shares of Symbotic in a research report on Friday, October 11th. Craig Hallum dropped their price target on Symbotic from $54.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a report on Friday, October 11th. Finally, KeyCorp cut their price target on shares of Symbotic from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, July 30th.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 17,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $21.46, for a total value of $364,820.00. Following the sale, the director now directly owns 214,036 shares of the company's stock, valued at approximately $4,593,212.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael David Dunn sold 5,266 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total value of $125,383.46. Following the completion of the sale, the insider now directly owns 85,224 shares of the company's stock, valued at $2,029,183.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 17,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $21.46, for a total transaction of $364,820.00. Following the sale, the director now owns 214,036 shares of the company's stock, valued at $4,593,212.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,057 shares of company stock worth $1,025,680. 38.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Symbotic by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company's stock valued at $106,819,000 after buying an additional 40,699 shares during the period. Capstone Investment Advisors LLC bought a new position in Symbotic during the first quarter valued at $3,315,000. Hussman Strategic Advisors Inc. increased its position in Symbotic by 50.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 94,500 shares of the company's stock worth $4,252,000 after buying an additional 31,500 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in Symbotic in the first quarter worth $228,000. Finally, Hunter Associates Investment Management LLC raised its stake in shares of Symbotic by 70.3% in the first quarter. Hunter Associates Investment Management LLC now owns 39,474 shares of the company's stock valued at $1,769,000 after buying an additional 16,300 shares during the period.

Symbotic Stock Performance

NASDAQ SYM traded up $0.65 on Friday, reaching $28.44. The stock had a trading volume of 669,620 shares, compared to its average volume of 1,585,950. The firm has a fifty day moving average of $24.21 and a two-hundred day moving average of $31.95. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82.

Symbotic (NASDAQ:SYM - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). The business had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. Symbotic's revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, equities analysts forecast that Symbotic will post -0.08 EPS for the current year.

About Symbotic

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.