Symbotic (NASDAQ:SYM) Trading Down 2.5% – Should You Sell?

Symbotic Inc. (NASDAQ:SYM) was down 2.5% during trading on Tuesday . The stock traded as low as $24.81 and last traded at $24.90. Approximately 460,906 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,814,943 shares. The stock had previously closed at $25.53.

Analyst Ratings Changes

Several equities analysts have commented on the stock. William Blair reissued a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, November 19th. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. Northland Securities increased their price target on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Craig Hallum cut shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average price target of $42.54.

Symbotic Stock Performance

The firm has a market cap of $14.42 billion, a price-to-earnings ratio of -409.17 and a beta of 1.73. The business has a fifty day moving average of $29.40 and a two-hundred day moving average of $28.67.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same period last year, the company posted ($0.08) EPS. The company’s revenue was up 47.2% on a year-over-year basis. On average, equities research analysts forecast that Symbotic Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Monday, November 4th. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $6,025,113.40. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael David Dunn sold 1,715 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $28.77, for a total value of $49,340.55. Following the completion of the transaction, the insider now owns 87,922 shares in the company, valued at $2,529,515.94. This trade represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,745 shares of company stock valued at $3,261,675 over the last quarter. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Large investors have recently made changes to their positions in the company. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the third quarter worth approximately $49,000. RiverPark Advisors LLC boosted its position in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC grew its stake in shares of Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Quarry LP bought a new position in Symbotic during the second quarter worth $65,000.

About Symbotic

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.