Symbotic (NASDAQ:SYM) Given “Sell” Rating at BWS Financial

BWS Financial reiterated their sell rating on shares of Symbotic (NASDAQ:SYM) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

A number of other equities analysts also recently weighed in on SYM. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday. The Goldman Sachs Group lowered their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock 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 on the stock in a report on Tuesday, July 30th. KeyCorp upped their price target on Symbotic from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Citigroup reduced their target price on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.31.

Symbotic Stock Performance

NASDAQ SYM opened at $39.02 on Tuesday. The business’s fifty day moving average is $27.00 and its two-hundred day moving average is $31.09. The stock has a market capitalization of $22.85 billion, a P/E ratio of -205.37 and a beta of 1.81. Symbotic has a 1 year low of $17.11 and a 1 year high of $59.82.

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

Insider Activity at Symbotic

In other Symbotic news, 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 value of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Dunn sold 5,266 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the transaction, the insider now owns 85,224 shares of the company’s stock, valued at $2,029,183.44. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,878 shares of company stock valued at $1,378,056 in the last ninety days. Insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Symbotic by 16.6% in the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares in the last quarter. Comerica Bank lifted its position in Symbotic by 1,347.0% in the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock valued at $749,000 after acquiring an additional 15,491 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Symbotic by 6,694.5% in the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after acquiring an additional 330,709 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.