Sarcos Technology and Robotics (NASDAQ:STRC) Downgraded by Zacks Investment Research

Sarcos Technology and Robotics (NASDAQ:STRCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, 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 cut their target price on 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 $4.54 on Friday. Sarcos Technology and Robotics has a one year low of $4.31 and a one year high of $11.80. The company’s 50-day simple moving average is $5.88.

Sarcos Technology and Robotics (NASDAQ:STRCGet Rating) last announced its 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 company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.90 million. On average, research analysts forecast that Sarcos Technology and Robotics will post -0.48 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Sarcos Technology and Robotics by 119.2% during the fourth quarter. Bank of America Corp DE now owns 3,332 shares of the company’s stock valued at $33,000 after acquiring an additional 1,812 shares during the last quarter. UBS Group AG purchased a new stake in shares of Sarcos Technology and Robotics during the third quarter valued at approximately $27,000. Wolverine Asset Management LLC increased its position in shares of Sarcos Technology and Robotics by 46.6% during the fourth quarter. Wolverine Asset Management LLC now owns 14,658 shares of the company’s stock valued at $146,000 after acquiring an additional 4,658 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sarcos Technology and Robotics by 51.7% during the fourth quarter. JPMorgan Chase & Co. now owns 16,404 shares of the company’s stock valued at $164,000 after acquiring an additional 5,593 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Sarcos Technology and Robotics during the third quarter valued at approximately $59,000. 75.22% of the stock is owned by hedge funds and other institutional investors.

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.

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