Symbotic (NASDAQ:SYM) Earns Sell Rating from BWS Financial

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating reaffirmed by investment analysts at BWS Financial in a report issued on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock. BWS Financial’s price objective would indicate a potential downside of 74.80% from the company’s current price.

A number of other equities research analysts have also recently weighed in on SYM. 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. Robert W. Baird cut their price target on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Vertical Research initiated coverage on Symbotic in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research report on Tuesday. Finally, KeyCorp upped their price target on shares of Symbotic from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.54.

Symbotic Price Performance

Shares of NASDAQ SYM traded up $9.13 during midday trading on Tuesday, hitting $39.69. 7,630,674 shares of the company’s stock were exchanged, compared to its average volume of 1,598,891. The firm’s fifty day simple moving average is $27.00 and its 200-day simple moving average is $31.09. The company has a market cap of $23.24 billion, a PE ratio of -209.47 and a beta of 1.81. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82.

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

Insiders Place Their Bets

In other news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,878 shares of company stock worth $1,378,056. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Castleview Partners LLC grew its position in shares of Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Symbotic in the third quarter valued at $49,000. RiverPark Advisors LLC lifted its holdings in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the period. RFP Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 310 shares during the last quarter. Finally, Quest Partners LLC grew its position in Symbotic by 19,307.7% during the third quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 2,510 shares during the period.

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.