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Sarcos Technology and Robotics (NASDAQ:STRC) Raised to Hold at Zacks Investment Research


Sarcos Technology and Robotics (NASDAQ: STRC – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Sarcos Robotics is involved in the development of robotic systems. The company’s mobile robotic systems, including the Guardian (R) S, Guardian (R) GT, Guardian (R) XO (R), and Guardian (R) XT (TM). Sarcos Robotics, formerly known as Rotor Acquisition Corp., is based in Salt Lake City, Utah. “

Separately, Credit Suisse Group lowered their target price on shares of Sarcos Technology and Robotics from $ 9.00 to $ 8.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 30th.

Shares of Sarcos Technology and Robotics stock opened at $ 3.81 on Friday. Sarcos Technology and Robotics has a 52 week low of $ 2.85 and a 52 week high of $ 11.80. The firm’s 50 day moving average is $ 5.30 and its two-hundred day moving average is $ 6.71.

Sarcos Technology and Robotics (NASDAQ: STRC – Get Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported ($ 0.11) EPS for the quarter, missing the consensus estimate of ($ 0.06) by ($ 0.05). The business had revenue of $ 1.00 million for the quarter, compared to the consensus estimate of $ 1.90 million. Analysts anticipate that Sarcos Technology and Robotics will post -0.48 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Sarcos Technology and Robotics by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 292,320 shares of the company’s stock worth $ 1,944,000 after acquiring an additional 7,176 shares during the last quarter. Vanguard Group Inc. grew its position in Sarcos Technology and Robotics by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 1,749,284 shares of the company’s stock valued at $ 11,632,000 after buying an additional 54,132 shares during the last quarter. BlackRock Inc. increased its stake in Sarcos Technology and Robotics by 10.0% in the 1st quarter. BlackRock Inc. now owns 2,266,454 shares of the company’s stock valued at $ 15,072,000 after buying an additional 206,108 shares during the period. Citigroup Inc. acquired a new position in Sarcos Technology and Robotics in the 1st quarter valued at $ 33,000. Finally, Bank of New York Mellon Corp acquired a new position in Sarcos Technology and Robotics in the 1st quarter valued at $ 175,000. Institutional investors and hedge funds own 35.31% of the company’s stock.

About Sarcos Technology and Robotics (Get Rating)

Sarcos Technology and Robotics Corporation designs, develops, and sells robotic systems. Its robotic systems augment human performance by combining human intelligence, instinct, and judgment with machines to enhance employee safety and productivity. The company’s mobile robotic systems include the Guardian XO, a full-body powered exoskeleton; Guardian XT, a highly dexterous mobile robot perform; Guardian GT, a force-multiplying dexterous robotic system; and Guardian S, a remote-controlled visual inspection and surveillance robotic system.

Further Reading

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