UBS Group Issues Pessimistic Forecast for Symbotic (NASDAQ:SYM) Stock Price

Symbotic (NASDAQ:SYM) had its price target reduced by investment analysts at UBS Group from $32.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 29.34% from the stock’s previous close.

Several other brokerages have also issued reports on SYM. TD Cowen boosted their target price on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, February 6th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer began coverage on shares of Symbotic in a research note on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average price target of $38.20.

Symbotic Stock Performance

NASDAQ:SYM traded down $1.19 during trading hours on Tuesday, hitting $23.20. The stock had a trading volume of 577,723 shares, compared to its average volume of 2,365,080. Symbotic has a one year low of $17.11 and a one year high of $50.40. The business’s 50 day moving average is $27.22 and its 200-day moving average is $26.51. The company has a market cap of $13.65 billion, a price-to-earnings ratio of -329.92, a P/E/G ratio of 6.48 and a beta of 1.79.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. On average, sell-side analysts anticipate that Symbotic will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, insider Michael David Dunn sold 1,971 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $30.00, for a total transaction of $59,130.00. Following the completion of the sale, the insider now owns 22,301 shares in the company, valued at approximately $669,030. This represents a 8.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 2,660 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.60, for a total value of $73,416.00. Following the transaction, the insider now owns 40,812 shares of the company’s stock, valued at $1,126,411.20. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,854 shares of company stock worth $3,986,371 in the last 90 days. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in Symbotic by 58.2% in the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after buying an additional 503 shares in the last quarter. Private Trust Co. NA purchased a new stake in Symbotic in the fourth quarter worth about $47,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Symbotic in the fourth quarter worth about $47,000. Arcadia Investment Management Corp MI bought a new position in shares of Symbotic during the 3rd quarter valued at approximately $49,000. Finally, RiverPark Advisors LLC grew its holdings in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter.

Symbotic Company Profile

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.