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

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating reissued by research analysts at BWS Financial in a report issued on Tuesday, Benzinga reports. They currently have a $10.00 target price on the stock. BWS Financial’s price objective suggests a potential downside of 64.25% from the company’s previous close.

A number of other research firms have also recently issued reports on SYM. Robert W. Baird raised their target price on Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Tuesday. Northland Securities raised their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group cut their target price on Symbotic from $46.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup cut their price objective on shares of Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.36.

Symbotic Trading Down 21.5 %

NASDAQ:SYM traded down $7.66 during trading hours on Tuesday, hitting $27.97. The stock had a trading volume of 5,250,452 shares, compared to its average volume of 1,398,663. Symbotic has a 1-year low of $26.02 and a 1-year high of $64.14. The business has a 50 day simple moving average of $37.58 and a two-hundred day simple moving average of $41.27. The company has a market cap of $16.35 billion, a PE ratio of -116.66 and a beta of 1.87.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data 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). Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. The firm had revenue of $491.86 million during the quarter, compared to analyst estimates of $464.56 million. During the same period last year, the business earned ($0.07) EPS. The firm’s revenue was up 57.7% compared to the same quarter last year. Research analysts expect that Symbotic will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Ladensohn sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $40.89, for a total value of $2,044,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $40.89, for a total transaction of $2,044,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Janet L. Cohen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total value of $1,081,500.00. The disclosure for this sale can be found here. Insiders sold a total of 152,107 shares of company stock worth $6,030,707 in the last three months. 38.30% of the stock is owned by insiders.

Institutional Trading of Symbotic

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp bought a new stake in shares of Symbotic during the fourth quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new stake in Symbotic in the first quarter valued at $37,000. Pingora Partners LLC bought a new stake in Symbotic in the fourth quarter valued at $51,000. Global Retirement Partners LLC grew its position in Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after acquiring an additional 660 shares during the period. Finally, TFC Financial Management Inc. grew its position in Symbotic by 97.1% in the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock valued at $63,000 after acquiring an additional 604 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.