Symbotic’s (SYM) “Sell” Rating Reiterated at BWS Financial

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

SYM has been the topic of a number of other reports. Robert W. Baird decreased their price objective on shares of Symbotic from $53.00 to $41.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC dropped their price objective on Symbotic from $54.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, July 30th. Cantor Fitzgerald reiterated an overweight rating and issued a $60.00 target price on shares of Symbotic in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Symbotic from $58.00 to $59.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Finally, Vertical Research began coverage on shares of Symbotic in a report on Tuesday, July 23rd. They set a hold rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $43.23.

Symbotic Price Performance

Shares of SYM opened at $29.93 on Friday. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $59.82. The firm has a market capitalization of $17.53 billion, a PE ratio of -157.53 and a beta of 1.84. The company’s 50-day moving average is $22.42 and its 200-day moving average is $33.39.

Symbotic (NASDAQ:SYM) last issued 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 company had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share. Analysts predict that Symbotic will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other Symbotic news, insider Michael David Dunn sold 1,895 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total transaction of $69,281.20. Following the sale, the insider now owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the transaction, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Dunn sold 1,895 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $36.56, for a total value of $69,281.20. Following the completion of the sale, the insider now owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,987 shares of company stock worth $986,559 over the last ninety days. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SYM. RFP Financial Group LLC grew its holdings in Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after buying an additional 242 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Symbotic by 11.6% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $123,000 after purchasing an additional 284 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Symbotic by 4.5% during the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock valued at $678,000 after purchasing an additional 654 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Symbotic by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after purchasing an additional 679 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Symbotic by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock valued at $597,000 after buying an additional 800 shares during 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.