Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $26.77, but opened at $32.51. Symbotic shares last traded at $31.50, with a volume of 4,681,543 shares trading hands.
A number of brokerages recently issued reports on SYM. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. William Blair restated a "market perform" rating on shares of Symbotic in a report on Thursday, December 5th. Craig Hallum cut shares of Symbotic from a "buy" rating to a "hold" rating and set a $25.00 target price on the stock. in a research report on Wednesday, November 27th. Northland Securities upped their target price on Symbotic from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $34.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.53.
Read Our Latest Research Report on SYM
The business has a 50 day moving average of $28.06 and a 200-day moving average of $27.56. The company has a market capitalization of $18.49 billion, a P/E ratio of -524.50 and a beta of 1.76.
Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business's quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. As a group, equities analysts forecast that Symbotic Inc. will post 0.12 EPS for the current fiscal year.
In related news, Director Merline Saintil sold 5,250 shares of Symbotic stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $28.70, for a total value of $150,675.00. Following the sale, the director now owns 74,562 shares in the company, valued at $2,139,929.40. The trade was a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,844 shares of company stock worth $3,268,431 in the last ninety days. 38.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SYM. Canada Pension Plan Investment Board boosted its holdings in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company's stock valued at $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Geode Capital Management LLC lifted its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company's stock valued at $12,290,000 after purchasing an additional 46,721 shares during the period. Sanctuary Advisors LLC bought a new stake in Symbotic in the 3rd quarter worth approximately $1,029,000. Capital Market Strategies LLC purchased a new stake in Symbotic during the 4th quarter valued at $802,000. Finally, Baillie Gifford & Co. lifted its holdings 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 buying an additional 3,410,050 shares during the period.
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.
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