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

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

SYM has been the topic of a number of other reports. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. TD Cowen upped their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Oppenheimer initiated coverage on shares of Symbotic in a report on Wednesday, January 15th. They set an “outperform” rating and a $35.00 target price for the company. Finally, DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Trading Up 12.3 %

NASDAQ:SYM opened at $33.43 on Tuesday. The stock has a market capitalization of $19.64 billion, a PE ratio of -557.17, a P/E/G ratio of 6.88 and a beta of 1.76. Symbotic has a 1-year low of $17.11 and a 1-year high of $52.20. The firm has a fifty day simple moving average of $27.85 and a 200 day simple moving average of $27.39.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) earnings per share. On average, equities analysts predict that Symbotic will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic 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 transaction, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Merline Saintil sold 5,250 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $28.70, for a total value of $150,675.00. Following the sale, the director now owns 74,562 shares of the company’s stock, valued at $2,139,929.40. The trade was a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,958 shares of company stock valued at $3,690,570 in the last three months. Corporate insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Symbotic by 24.1% during the second quarter. Dimensional Fund Advisors LP now owns 43,367 shares of the company’s stock worth $1,525,000 after buying an additional 8,415 shares during the last quarter. Blair William & Co. IL grew its position in Symbotic by 67.9% during the 2nd quarter. Blair William & Co. IL now owns 56,030 shares of the company’s stock worth $1,970,000 after acquiring an additional 22,665 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Symbotic by 3,622.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 193,678 shares of the company’s stock worth $6,810,000 after purchasing an additional 188,475 shares in the last quarter. Marshall Wace LLP bought a new position in Symbotic in the second quarter valued at about $4,207,000. Finally, K2 Principal Fund L.P. boosted its stake in shares of Symbotic by 60.0% during the second quarter. K2 Principal Fund L.P. now owns 8,000 shares of the company’s stock valued at $281,000 after purchasing an additional 3,000 shares in the last quarter.

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.