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

BWS Financial reiterated their sell rating on shares of Symbotic (NASDAQ:SYM) in a report released on Tuesday morning,Benzinga reports. BWS Financial currently has a $10.00 price target on the stock.

SYM has been the subject of several other reports. KeyCorp lifted their price objective on Symbotic from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group decreased their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Citigroup lowered their price objective on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. TD Cowen lowered their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Craig Hallum dropped their price target on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Symbotic currently has a consensus rating of “Moderate Buy” and an average target price of $44.31.

Symbotic Trading Up 27.7 %

SYM stock opened at $39.02 on Tuesday. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The firm has a market capitalization of $22.85 billion, a PE ratio of -205.37 and a beta of 1.81. The business’s 50 day simple moving average is $27.00 and its 200 day simple moving average is $31.09.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, sell-side analysts predict that Symbotic will post -0.08 EPS for the current fiscal year.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,878 shares of company stock worth $1,378,056 over the last quarter. 38.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently made changes to their positions in SYM. Castleview Partners LLC increased its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. RFP Financial Group LLC raised its stake in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after acquiring an additional 310 shares during the period. Quarry LP purchased a new stake in Symbotic during the second quarter valued at about $65,000. Arcadia Investment Management Corp MI bought a new position in Symbotic during the third quarter worth about $49,000. Finally, Natixis Investment Managers International purchased a new position in shares of Symbotic in the first quarter worth about $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.