Symbotic (NASDAQ:SYM – Get Rating) had its price target increased by Needham & Company LLC from $17.00 to $18.00 in a research report sent to investors on Tuesday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.
Other analysts also recently issued reports about the company. Robert W. Baird set a $18.00 price target on Symbotic in a research note on Tuesday, November 22nd. DA Davidson set a $20.00 price target on Symbotic in a research note on Thursday, November 24th. Citigroup reduced their price objective on Symbotic from $21.00 to $16.00 and set a buy rating for the company in a report on Tuesday, November 22nd. The Goldman Sachs Group reduced their price objective on Symbotic from $13.00 to $10.00 and set a neutral rating for the company in a report on Wednesday, November 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $19.00 to $20.00 in a report on Wednesday, November 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $19.00.
Symbotic Trading Down 1.6 %
Shares of SYM stock opened at $15.20 on Tuesday. The business’s 50 day moving average is $12.72 and its two-hundred day moving average is $13.03. Symbotic has a twelve month low of $8.75 and a twelve month high of $28.48. The company has a market capitalization of $8.42 billion, a P/E ratio of -2.59 and a beta of 1.16.
Insider Buying and Selling at Symbotic
In other Symbotic news, insider Michael David Dunn sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $11.33, for a total value of $56,650.00. Following the transaction, the insider now directly owns 144,939 shares in the company, valued at approximately $1,642,158.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 41.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Symbotic during the 3rd quarter worth about $50,000. Armstrong Advisory Group Inc. purchased a new position in shares of Symbotic during the 4th quarter worth about $68,000. Essex Investment Management Co. LLC purchased a new position in shares of Symbotic during the 4th quarter worth about $124,000. Raymond James Trust N.A. purchased a new position in shares of Symbotic during the 4th quarter worth about $137,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Symbotic during the 3rd quarter worth about $181,000. 57.76% of the stock is currently owned by hedge funds and other institutional investors.
Symbotic Company Profile
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.
- Get a free copy of the StockNews.com research report on Symbotic (SYM)
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