BWS Financial Reiterates “Sell” Rating for Symbotic (NASDAQ:SYM)

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating restated by investment analysts at BWS Financial in a note issued to investors on Wednesday,Benzinga reports. They presently have a $10.00 price objective on the stock. BWS Financial’s target price would suggest a potential downside of 53.28% from the company’s previous close.

Several other brokerages have also issued reports on SYM. Oppenheimer assumed coverage on shares of Symbotic in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. Northland Securities upped their price objective on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a research note on Thursday, February 6th. Finally, Citigroup restated a “buy” rating and set a $37.00 target price on shares of Symbotic in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Symbotic currently has an average rating of “Hold” and an average price target of $38.20.

Symbotic Trading Up 2.4 %

SYM stock opened at $21.41 on Wednesday. The firm has a market cap of $12.59 billion, a P/E ratio of -301.91, a P/E/G ratio of 6.48 and a beta of 1.85. Symbotic has a 1-year low of $17.11 and a 1-year high of $48.98. The business’s 50 day moving average is $25.09 and its 200-day moving average is $26.73.

Symbotic (NASDAQ:SYM) last issued its earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. Sell-side analysts forecast that Symbotic will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, insider William M. Boyd III sold 2,455 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the transaction, the insider now directly owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at $5,145,425.44. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,442 shares of company stock worth $2,120,023 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SYM. Walmart Inc. acquired a new stake in shares of Symbotic in the 4th quarter worth about $355,650,000. Vanguard Group Inc. raised its stake in shares of Symbotic by 41.3% in the fourth quarter. Vanguard Group Inc. now owns 4,970,292 shares of the company’s stock worth $117,846,000 after purchasing an additional 1,452,627 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Symbotic during the fourth quarter worth $20,754,000. Invesco Ltd. lifted its position in shares of Symbotic by 25.9% during the 4th quarter. Invesco Ltd. now owns 727,890 shares of the company’s stock worth $17,258,000 after buying an additional 149,918 shares in the last quarter. Finally, TCW Group Inc. boosted its position in Symbotic by 51.7% in the fourth quarter. TCW Group Inc. now owns 582,955 shares of the company’s stock worth $13,822,000 after purchasing an additional 198,681 shares during the last quarter.

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.