Symbotic (NASDAQ:SYM) Sees Large Volume Increase - Should You Buy?

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 5,007,039 shares changed hands during mid-day trading, an increase of 134% from the previous session's volume of 2,135,539 shares.The stock last traded at $59.0780 and had previously closed at $60.48.

Wall Street Analysts Forecast Growth

• Symbotic Reanimates Market, Long-Term Targets Are Back In Focus

SYM has been the topic of several recent analyst reports. Oppenheimer reissued an "outperform" rating and set a $83.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. The Goldman Sachs Group cut shares of Symbotic from a "neutral" rating to a "sell" rating and set a $47.00 price target on the stock. in a report on Tuesday. Weiss Ratings reissued a "hold (c-)" rating on shares of Symbotic in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a "hold" rating in a report on Tuesday, November 25th. Finally, Citigroup increased their target price on Symbotic from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $56.07.

Get Our Latest Research Report on Symbotic

Symbotic Price Performance

• 3 Automation-Focused Stocks Flying Under the Radar

The stock's 50-day moving average is $67.93 and its two-hundred day moving average is $52.27. The company has a market cap of $35.30 billion, a P/E ratio of -397.69, a P/E/G ratio of 20.77 and a beta of 2.10.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to analysts' expectations of $604.00 million. Symbotic had a negative net margin of 0.75% and a negative return on equity of 3.89%. Symbotic's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

• AI Exposure Without the Hype: 3 ETFs That Offer Smarter AI Bets

In other Symbotic news, CTO James Kuffner sold 8,348 shares of the firm's stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $81.30, for a total value of $678,692.40. Following the transaction, the chief technology officer directly owned 30,640 shares of the company's stock, valued at approximately $2,491,032. This trade represents a 21.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Ladensohn sold 23,000 shares of the company's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $66.75, for a total transaction of $1,535,250.00. Following the sale, the insider directly owned 5,000 shares of the company's stock, valued at $333,750. The trade was a 82.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 81,508 shares of company stock valued at $6,020,555 in the last 90 days. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. MAI Capital Management lifted its position in shares of Symbotic by 833.3% during the third quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Ameriflex Group Inc. grew its holdings in shares of Symbotic by 1,500.0% in the third quarter. Ameriflex Group Inc. now owns 704 shares of the company's stock worth $38,000 after purchasing an additional 660 shares during the last quarter. Strategic Advocates LLC purchased a new position in Symbotic in the 3rd quarter worth about $42,000. IAG Wealth Partners LLC purchased a new position in Symbotic in the 2nd quarter worth about $32,000. Finally, AdvisorNet Financial Inc bought a new stake in Symbotic during the 2nd quarter valued at about $32,000.

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.

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