Symbotic’s (SYM) Sell Rating Reiterated at BWS Financial

BWS Financial reissued their sell rating on shares of Symbotic (NASDAQ:SYM) in a report issued on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other research firms have also recently commented on SYM. Needham & Company LLC boosted their price objective on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum reduced their price objective on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. KeyCorp lifted their target price on shares of Symbotic from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average target price of $44.31.

Symbotic Price Performance

NASDAQ:SYM opened at $38.79 on Tuesday. The company has a 50 day moving average price of $28.08 and a 200-day moving average price of $31.15. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The firm has a market cap of $22.71 billion, a price-to-earnings ratio of -646.42 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, sell-side analysts anticipate that Symbotic will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, insider Michael David Dunn sold 5,266 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total value of $125,383.46. Following the transaction, the insider now directly owns 85,224 shares in the company, valued at approximately $2,029,183.44. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the sale, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,878 shares of company stock worth $1,378,056 in the last three months. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank boosted its stake in Symbotic by 3.4% during the first quarter. Swiss National Bank now owns 33,000 shares of the company’s stock worth $1,485,000 after buying an additional 1,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Symbotic during the first quarter worth $12,219,000. Vanguard Group Inc. boosted its position in shares of Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Symbotic in the first quarter valued at $352,000. Finally, Natixis Investment Managers International purchased a new stake in shares of Symbotic in the 1st quarter valued at $90,000.

About Symbotic

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.