Symbotic (SYM) Set to Announce Earnings on Monday

Symbotic (NASDAQ:SYM) will be posting its quarterly earnings results after the market closes on Monday, November 18th. Analysts expect Symbotic to post earnings of $0.03 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Symbotic Price Performance

SYM stock opened at $29.49 on Friday. Symbotic has a 1 year low of $17.11 and a 1 year high of $59.82. The firm has a market capitalization of $17.27 billion, a PE ratio of -155.21 and a beta of 1.81. The business has a 50 day simple moving average of $26.75 and a 200-day simple moving average of $31.26.

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,878 shares of company stock valued at $1,378,056. Insiders own 38.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SYM shares. Craig Hallum dropped their target price on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Cowen reduced their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. BWS Financial reiterated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a research report on Friday, October 11th. Finally, Vertical Research started coverage on Symbotic in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

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.