Symbotic Sees Unusually High Options Volume (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYM) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 14,612 call options on the stock. This represents an increase of approximately 41% compared to the average volume of 10,333 call options.

Insider Activity

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the firm’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 transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, valued at $990,084.48. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the completion of the sale, the insider now owns 24,055 shares in the company, valued at $723,574.40. This represents a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,844 shares of company stock worth $3,268,431 over the last quarter. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Castleview Partners LLC increased its holdings in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic in the 3rd quarter valued at $49,000. RiverPark Advisors LLC raised its position in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter. Quest Partners LLC boosted its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Quarry LP purchased a new position in Symbotic in the second quarter valued at about $65,000.

Wall Street Analysts Forecast Growth

SYM has been the topic of several analyst reports. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 8th. UBS Group lowered their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. BWS Financial reiterated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Finally, Northland Securities lifted their price target on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Symbotic presently has an average rating of “Moderate Buy” and an average price target of $39.53.

Symbotic Trading Up 20.5 %

Shares of Symbotic stock traded up $5.50 on Thursday, hitting $32.27. 10,086,481 shares of the company traded hands, compared to its average volume of 2,451,561. The company has a market cap of $18.95 billion, a PE ratio of -530.28 and a beta of 1.76. The stock’s 50 day moving average price is $28.06 and its 200-day moving average price is $27.56. Symbotic has a 52 week low of $17.11 and a 52 week high of $52.20.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s revenue was up 47.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. As a group, research analysts anticipate that Symbotic will post 0.12 EPS for the current fiscal year.

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.