The stock of Symbotic Inc. (NASDAQ:SYM) last traded at $15.56, up 7.61% from the previous session.
Data from the available sources indicates that Symbotic Inc. (NASDAQ:SYM) is covered by 12 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $10.00, we find $20.00. Given the previous closing price of $14.46, this indicates a potential upside of 38.31 percent. SYM stock price is now 33.54% away from the 50-day moving average and 24.13% away from the 200-day moving average. The market capitalization of the company currently stands at $875.09M.
In total, 1 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $18.64 as their price target over the next twelve months.
With the price target of $17, UBS recently initiated with Buy rating for Symbotic Inc. (NASDAQ: SYM). On July 25, 2022, Goldman recently initiated its ‘Neutral’ rating on the stock quoting a target price of $19, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’.
In other news, Dunn Michael David, insider sold 5,000 shares of the company’s stock on Dec 07. The stock was sold for $56,652 at an average price of $11.33. Upon completion of the transaction, the insider now directly owns 144,939 shares in the company, valued at $2.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 24, See Remarks Dunn Michael David sold 21,898 shares of the business’s stock. A total of $289,535 was realized by selling the stock at an average price of $13.22. This leaves the insider owning 149,939 shares of the company worth $2.33 million. Insiders disposed of 30,230,900 shares of company stock worth roughly $470.39 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYM stock. A new stake in Symbotic Inc. shares was purchased by NICHOLAS INVESTMENT PARTNERS, LP during the first quarter worth $3,033,000. VANGUARD GROUP INC invested $2,060,000 in shares of SYM during the first quarter. In the first quarter, TANAKA CAPITAL MANAGEMENT INC acquired a new stake in Symbotic Inc. valued at approximately $1,089,000. EMERALD MUTUAL FUND ADVISERS TRUST acquired a new stake in SYM for approximately $1,070,000. BANK OF AMERICA CORP /DE/ purchased a new stake in SYM valued at around $795,000 in the second quarter. In total, there are 29 active investors with 39.60% ownership of the company’s stock.
With an opening price of $14.50 on Monday morning, Symbotic Inc. (NASDAQ: SYM) set off the trading day. During the past 12 months, Symbotic Inc. has had a low of $8.75 and a high of $28.48. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.20, and a quick ratio of 1.00. The fifty day moving average price for SYM is $11.65 and a two-hundred day moving average price translates $12.54 for the stock.
The latest earnings results from Symbotic Inc. (NASDAQ: SYM) was released for Jun, 2022. The net profit margin was -2.60% and return on equity was 3.70% for SYM. For the current quarter, analysts expect SYM to generate $152.83M in revenue.
Symbotic Inc.(SYM) Company Profile
Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.