Symbotic (NASDAQ:SYM) Sets New 1-Year Low – Should You Sell?

Symbotic Inc. (NASDAQ:SYM)’s share price hit a new 52-week low on Wednesday. The company traded as low as $37.35 and last traded at $37.6450, with a volume of 1,149,805 shares changing hands. The stock had previously closed at $40.89.

Analyst Upgrades and Downgrades

SYM has been the topic of several research reports. Barclays dropped their target price on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, September 8th. Weiss Ratings upgraded shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Needham & Company LLC dropped their target price on Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Finally, Robert W. Baird set a $51.00 price target on shares of Symbotic in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and an average target price of $65.45.

Symbotic Stock Down 7.7%

The stock has a market cap of $22.83 billion, a P/E ratio of 419.87, a P/E/G ratio of 4.53 and a beta of 1.97. The firm has a 50 day moving average price of $42.03 and a 200 day moving average price of $46.22.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities analysts predict that Symbotic Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other Symbotic news, CTO James Kuffner sold 18,987 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $40.38, for a total value of $766,695.06. Following the completion of the transaction, the chief technology officer directly owned 214,062 shares in the company, valued at $8,643,823.56. This represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Izilda Martins sold 27,463 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $40.80, for a total transaction of $1,120,490.40. Following the completion of the transaction, the chief financial officer owned 35,171 shares of the company’s stock, valued at approximately $1,434,976.80. The trade was a 43.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 82,970 shares of company stock valued at $3,397,126. 8.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its holdings in shares of Symbotic by 5.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,811 shares of the company’s stock valued at $261,000 after purchasing an additional 287 shares during the period. Toth Financial Advisory Corp grew its stake in Symbotic by 88.7% in the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company’s stock worth $27,000 after purchasing an additional 297 shares in the last quarter. International Assets Investment Management LLC grew its stake in Symbotic by 5.4% in the first quarter. International Assets Investment Management LLC now owns 5,844 shares of the company’s stock worth $320,000 after purchasing an additional 300 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Symbotic by 7.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,100 shares of the company’s stock worth $229,000 after purchasing an additional 344 shares during the period. Finally, IAG Wealth Partners LLC increased its holdings in Symbotic by 29.4% during the 1st quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company’s stock worth $93,000 after purchasing an additional 398 shares during the period.

About Symbotic

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.