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

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

Several other research firms have also commented on SYM. Vertical Research initiated coverage on Symbotic in a report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target on the stock. Northland Securities upped their price target on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group cut their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Citigroup reduced their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Craig Hallum lowered their target price on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.31.

Symbotic Stock Up 0.1 %

NASDAQ:SYM opened at $36.36 on Tuesday. Symbotic has a 52 week low of $17.11 and a 52 week high of $59.82. The stock’s 50-day moving average price is $27.76 and its 200-day moving average price is $31.11. The stock has a market capitalization of $21.29 billion, a PE ratio of -605.17 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The company had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. Symbotic’s revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Sell-side analysts expect that Symbotic will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 214,036 shares in the company, valued at $4,013,175. This trade represents a 0.93 % 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, insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at $2,029,183.44. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock valued at $1,378,056 over the last three months. 38.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Symbotic

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

Symbotic Company Profile

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.