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

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating reiterated by equities research analysts at BWS Financial in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $10.00 price objective on the stock. BWS Financial’s price objective indicates a potential downside of 60.82% from the stock’s current price.

Several other research analysts have also issued reports on the company. 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 report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Craig Hallum dropped their target price on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Needham & Company LLC reduced their price target on Symbotic from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price target on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.23.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $25.52 on Friday. The business’s 50 day simple moving average is $24.07 and its two-hundred day simple moving average is $34.99. The firm has a market cap of $14.94 billion, a P/E ratio of -106.33 and a beta of 1.81. Symbotic has a 52-week low of $17.11 and a 52-week high of $59.82.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The firm’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, equities analysts forecast that Symbotic will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael David Dunn sold 5,188 shares of Symbotic stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $184,122.12. Following the transaction, the insider now owns 76,808 shares in the company, valued at $2,725,915.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Michael David Dunn sold 5,188 shares of Symbotic stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $184,122.12. Following the transaction, the insider now owns 76,808 shares in the company, valued at $2,725,915.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $70,980.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $70,980. The disclosure for this sale can be found here. Insiders sold a total of 38,909 shares of company stock valued at $1,148,358 over the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYM. PNC Financial Services Group Inc. increased its holdings in Symbotic by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock valued at $597,000 after purchasing an additional 800 shares during the period. Wells Fargo & Company MN increased its holdings in Symbotic by 170.4% during the 4th quarter. Wells Fargo & Company MN now owns 171,585 shares of the company’s stock valued at $8,807,000 after purchasing an additional 108,126 shares during the period. US Bancorp DE increased its holdings in Symbotic by 434.6% during the 4th quarter. US Bancorp DE now owns 13,344 shares of the company’s stock valued at $685,000 after purchasing an additional 10,848 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Symbotic by 201.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,274 shares of the company’s stock valued at $887,000 after purchasing an additional 11,550 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Symbotic by 44.0% during the 4th quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after acquiring an additional 155,828 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.