Sarcos Technology and Robotics (NASDAQ:STRC) Upgraded at Zacks Investment Research

Sarcos Technology and Robotics (NASDAQ:STRCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, 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 price target on shares of Sarcos Technology and Robotics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 30th.

Shares of STRC opened at $4.12 on Thursday. Sarcos Technology and Robotics has a 12-month low of $4.00 and a 12-month high of $11.80. The company’s 50-day moving average price is $5.55 and its 200 day moving average price is $6.82.

Sarcos Technology and Robotics (NASDAQ:STRCGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $1.90 million. Analysts expect that Sarcos Technology and Robotics will post -0.48 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in STRC. UBS Group AG acquired a new position in shares of Sarcos Technology and Robotics during the third quarter worth about $27,000. Bank of America Corp DE grew 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 worth $33,000 after buying an additional 1,812 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Sarcos Technology and Robotics during the third quarter worth about $59,000. Wolverine Asset Management LLC acquired a new position in shares of Sarcos Technology and Robotics during the third quarter worth about $77,000. Finally, Castle Creek Arbitrage LLC acquired a new position in shares of Sarcos Technology and Robotics during the third quarter worth about $99,000. 35.31% of the stock is owned by institutional investors and hedge funds.

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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