Symbotic (NASDAQ:SYM) Trading 9% Higher – Should You Buy?

Symbotic Inc. (NASDAQ:SYM)’s stock price traded up 9% during mid-day trading on Tuesday . The stock traded as high as $32.05 and last traded at $32.43. 1,205,396 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,699,155 shares. The stock had previously closed at $29.76.

Wall Street Analyst Weigh In

Several research analysts have commented on SYM shares. Northland Securities lifted their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of Symbotic in a research note on Friday, January 17th. UBS Group cut their price target on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. BWS Financial reiterated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday. Finally, William Blair restated a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Trading Up 0.6 %

The company has a market capitalization of $19.68 billion, a PE ratio of -558.33, a price-to-earnings-growth ratio of 7.72 and a beta of 1.76. The business’s fifty day moving average is $27.87 and its two-hundred day moving average is $27.42.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. As a group, equities research analysts anticipate that Symbotic Inc. will post 0.14 EPS for the current year.

Insider Buying and Selling at Symbotic

In related news, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.33, for a total value of $250,040.58. Following the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. This trade represents a 27.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 13,114 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $32.19, for a total value of $422,139.66. Following the sale, the insider now directly owns 18,746 shares of the company’s stock, valued at $603,433.74. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,993 shares of company stock valued at $3,490,555. 38.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Hedge funds have recently modified their holdings of the company. Intergy Private Wealth LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $310,000. Hunter Associates Investment Management LLC boosted its stake in Symbotic by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company’s stock worth $1,599,000 after purchasing an additional 4,320 shares during the period. SG Americas Securities LLC bought a new position in Symbotic in the 4th quarter worth approximately $559,000. Bourne Lent Asset Management Inc. grew its holdings in Symbotic by 34.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock valued at $2,068,000 after buying an additional 22,500 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $85,000.

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.