Symbotic (NASDAQ:SYM) Hits New 52-Week Low – What’s Next?

Symbotic Inc. (NASDAQ:SYM) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $37.35 and last traded at $37.6450, with a volume of 1,149,805 shares trading hands. The stock had previously closed at $40.89.

Analyst Ratings Changes

Several research analysts have recently commented on SYM shares. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Needham & Company LLC cut their price target on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Weiss Ratings raised shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Robert W. Baird set a $51.00 price objective on shares of Symbotic in a report on Thursday, August 6th. Finally, Barclays lowered their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 8th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.45.

Symbotic Stock Performance

The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 441.78, a PEG ratio of 3.58 and a beta of 1.97. The company’s 50 day moving average is $41.86 and its 200 day moving average is $46.05.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million during the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, insider Maria Freve sold 2,244 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $40.28, for a total value of $90,388.32. Following the completion of the sale, the insider owned 3,096 shares in the company, valued at approximately $124,706.88. This trade represents a 42.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Boyd, III sold 9,194 shares of Symbotic stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.04, for a total value of $377,321.76. Following the sale, the insider directly owned 57,112 shares in the company, valued at approximately $2,343,876.48. This trade represents a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 82,970 shares of company stock valued at $3,397,126 in the last three months. Company insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Retirement Planning Co of New England Inc. raised its stake in shares of Symbotic by 3.6% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 18,795 shares of the company’s stock valued at $791,000 after buying an additional 658 shares in the last quarter. GK Wealth Management LLC bought a new position in shares of Symbotic during the 3rd quarter worth about $26,000. Green Alpha Advisors LLC boosted its position in shares of Symbotic by 7.1% during the 3rd quarter. Green Alpha Advisors LLC now owns 18,087 shares of the company’s stock valued at $761,000 after acquiring an additional 1,201 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of Symbotic by 88.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock valued at $27,000 after acquiring an additional 297 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Symbotic by 7.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,100 shares of the company’s stock valued at $229,000 after acquiring an additional 344 shares in the last quarter.

Symbotic Company Profile

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.