Symbotic (NASDAQ:SYM) Trading Up 3.6% – Should You Buy?

Symbotic Inc. (NASDAQ:SYM) shares shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $56.58 and last traded at $56.30. 1,173,082 shares traded hands during trading, a decline of 43% from the average session volume of 2,073,889 shares. The stock had previously closed at $54.35.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYM. Needham & Company LLC raised their price target on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Northcoast Research downgraded shares of Symbotic from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $50.00 price target on shares of Symbotic in a research note on Thursday, January 15th. Cantor Fitzgerald boosted 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. Finally, DA Davidson increased their price objective on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.57.

Symbotic Stock Up 2.3%

The stock has a 50-day moving average price of $60.42 and a 200 day moving average price of $60.47. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of -574.14, a P/E/G ratio of 5.63 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm had revenue of $629.99 million during the quarter, compared to analysts’ expectations of $622.58 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s revenue was up 29.4% compared to the same quarter last year. As a group, equities analysts forecast that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total value of $214,920.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William M. Boyd III sold 15,000 shares of Symbotic stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 7,199,533 shares of company stock worth $384,653,815. 8.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

Large investors have recently bought and sold shares 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. IAG Wealth Partners LLC acquired a new stake in shares of Symbotic during the second quarter worth $32,000. Parkside Financial Bank & Trust grew its position in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Quarry LP acquired a new position in Symbotic in the 4th quarter valued at $36,000. Finally, Parallel Advisors LLC increased its stake in Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after buying an additional 249 shares during the period.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.