December 4, 2022

Sarcos Technology and Robotics Co. (NASDAQ:STRC – Get Rating) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 4,850,000 shares, a growth of 55.0% from the June 15th total of 3,130,000 shares. Approximately 7.3% of the company’s stock are sold short. Based on an average trading volume of 482,300 shares, the days-to-cover ratio is currently 10.1 days.

Analysts Set New Price Targets

Separately, Credit Suisse Group reduced their target price on Sarcos Technology and Robotics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, March 30th.

Insider Buying and Selling

In other Sarcos Technology and Robotics news, Director Brian D. Finn bought 30,000 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $3.74 per share, with a total value of $112,200.00. Following the acquisition, the director now directly owns 42,315 shares of the company’s stock, valued at approximately $158,258.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Brian D. Finn purchased 30,000 shares of the stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $3.74 per share, with a total value of $112,200.00. Following the purchase, the director now directly owns 42,315 shares in the company, valued at approximately $158,258.10. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian D. Finn acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was acquired at an average price of $2.92 per share, for a total transaction of $43,800.00. Following the completion of the transaction, the director now directly owns 77,315 shares in the company, valued at $225,759.80. The disclosure for this purchase can be found here. Insiders bought 65,000 shares of company stock worth $232,400 over the last 90 days. 23.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

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Hedge funds have recently bought and sold shares of the company. Citigroup Inc. acquired a new position in Sarcos Technology and Robotics during the first quarter worth about $33,000. First Republic Investment Management Inc. acquired a new stake in Sarcos Technology and Robotics during the 1st quarter worth about $83,000. Victory Capital Management Inc. acquired a new stake in Sarcos Technology and Robotics during the 4th quarter worth about $120,000. Bank of America Corp DE boosted its position in Sarcos Technology and Robotics by 461.5% during the 1st quarter. Bank of America Corp DE now owns 18,709 shares of the company’s stock worth $125,000 after acquiring an additional 15,377 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in Sarcos Technology and Robotics during the 4th quarter worth about $126,000. 35.31% of the stock is owned by institutional investors and hedge funds.

Sarcos Technology and Robotics Price Performance

Shares of STRC traded up $0.02 during trading hours on Friday, reaching $2.97. 247,349 shares of the company’s stock traded hands, compared to its average volume of 702,622. Sarcos Technology and Robotics has a twelve month low of $2.51 and a twelve month high of $11.80. The business’s fifty day simple moving average is $3.38 and its two-hundred day simple moving average is $5.28.

Sarcos Technology and Robotics (NASDAQ:STRC – Get Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.50 million. Equities analysts anticipate that Sarcos Technology and Robotics will post -0.49 EPS for the current year.

Sarcos Technology and Robotics Company Profile

(Get Rating)

Sarcos Corp., a robotics and sensor company, designs, builds, and produces dexterous tele-operated robotic systems. Its products include Guardian S, an unmanned ground vehicle for security, inspection, and non-destructive testing available in a Robot-as-a-Service offering; Guardian GT, a big arm system or dual-armed human-controlled robot mounted on an agile tracked vehicle base for commercial, industrial, and first responder environments; and Guardian XO, a robot that features an exoskeleton suit; SenSuit controller garment for enhanced teleoperation of the Guardian XT (a highly dexterous mobile robotic system); and humanoid solutions.

Further Reading

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