Symbotic (NASDAQ:SYM) Stock Price Down 6.9% – Should You Sell?

by · The Markets Daily

Symbotic Inc. (NASDAQ:SYM – Get Free Report) fell 6.9% on Tuesday . The company traded as low as $52.50 and last traded at $52.94. 2,218,976 shares were traded during trading, an increase of 11% from the average session volume of 1,993,179 shares. The stock had previously closed at $56.89.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Symbotic in a report on Wednesday, October 8th. Wall Street Zen upgraded Symbotic from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Northcoast Research set a $65.00 target price on shares of Symbotic and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Needham & Company LLC increased their price target on shares of Symbotic from $32.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.61.

Read Our Latest Report on SYM

Symbotic Price Performance

The firm has a market cap of $31.26 billion, a PE ratio of -756.18, a PEG ratio of 9.79 and a beta of 2.10. The business’s 50 day moving average price is $63.56 and its 200 day moving average price is $48.66.

Insiders Place Their Bets

In related news, Director Todd Krasnow sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $76.75, for a total transaction of $307,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maria G. Freve sold 662 shares of the stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $70.95, for a total value of $46,968.90. Following the completion of the transaction, the insider directly owned 1,312 shares of the company’s stock, valued at approximately $93,086.40. This represents a 33.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 286,494 shares of company stock valued at $14,884,014. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Financial Engines Advisors L.L.C. acquired a new position in shares of Symbotic during the 3rd quarter worth approximately $530,000. Kestra Private Wealth Services LLC acquired a new position in Symbotic during the third quarter worth $625,000. NewEdge Advisors LLC boosted its stake in Symbotic by 101.1% during the third quarter. NewEdge Advisors LLC now owns 2,566 shares of the company’s stock worth $138,000 after buying an additional 1,290 shares during the last quarter. XTX Topco Ltd purchased a new stake in Symbotic in the 3rd quarter valued at $778,000. Finally, Voleon Capital Management LP acquired a new stake in shares of Symbotic in the 3rd quarter worth $3,870,000.

About Symbotic

(Get Free Report)

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.

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