Symbotic (NASDAQ:SYM) Shares Gap Down - Should You Sell?

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $21.05, but opened at $20.01. Symbotic shares last traded at $20.21, with a volume of 411,045 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on SYM. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 target price on shares of Symbotic in a report on Thursday, February 6th. Needham & Company LLC decreased their target price on shares of Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. BWS Financial reissued a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Tuesday, January 21st. The Goldman Sachs Group decreased their target price on shares of Symbotic from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Symbotic currently has an average rating of "Hold" and a consensus target price of $38.20.

Symbotic Trading Up 6.1 %

The firm's 50-day moving average is $26.84 and its 200 day moving average is $26.51. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of -332.67, a P/E/G ratio of 6.48 and a beta of 1.85.

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Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the transaction, the director now owns 10,447 shares in the company, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,854 shares of company stock worth $3,986,371 in the last ninety days. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SYM. Van ECK Associates Corp lifted its position in shares of Symbotic by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock worth $85,000 after purchasing an additional 774 shares during the period. Atria Investments Inc lifted its position in shares of Symbotic by 64.1% during the 3rd quarter. Atria Investments Inc now owns 10,950 shares of the company's stock valued at $267,000 after acquiring an additional 4,277 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Symbotic during the 3rd quarter valued at $602,000. Baillie Gifford & Co. lifted its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company's stock valued at $343,192,000 after acquiring an additional 3,410,050 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Symbotic by 76.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,131 shares of the company's stock valued at $320,000 after acquiring an additional 5,694 shares during the period.

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.