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

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating restated by stock analysts at BWS Financial in a report issued on Tuesday,Benzinga reports. They presently have a $10.00 price target on the stock. BWS Financial’s price target suggests a potential downside of 72.46% from the company’s previous close.

Several other analysts also recently weighed in on SYM. Needham & Company LLC lifted their target price on shares of Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. Vertical Research started coverage on shares of Symbotic in a report on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Craig Hallum dropped their target price on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Robert W. Baird decreased their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Symbotic Price Performance

SYM opened at $36.31 on Tuesday. Symbotic has a one year low of $17.11 and a one year high of $59.82. The business has a 50 day simple moving average of $27.42 and a two-hundred day simple moving average of $31.08. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of -605.17 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate 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 positive return on equity of 4.08% and a negative net margin of 1.03%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts expect that Symbotic will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,266 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $2,029,183.44. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,878 shares of company stock valued at $1,378,056. 38.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of SYM. Castleview Partners LLC boosted its stake in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic during the 3rd quarter valued at about $49,000. RiverPark Advisors LLC boosted its position in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares in the last quarter. RFP Financial Group LLC boosted its position in shares of Symbotic by 22.4% during 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 in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Symbotic by 19,307.7% during the 3rd 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 in 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.