BWS Financial Reiterates Sell Rating for Symbotic (NASDAQ:SYM)

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

A number of other equities research analysts also recently issued reports on the stock. KeyCorp increased their price objective on shares of Symbotic from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Vertical Research began coverage on shares of Symbotic in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $45.00 price target for the company. The Goldman Sachs Group cut their price objective on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Robert W. Baird cut their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.

Symbotic Stock Performance

Shares of NASDAQ:SYM opened at $36.31 on Tuesday. Symbotic has a 52 week low of $17.11 and a 52 week high of $59.82. The company has a market capitalization of $21.26 billion, a PE ratio of -605.17 and a beta of 1.81. The company has a 50 day moving average price of $27.42 and a two-hundred day moving average price of $31.08.

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

Insider Buying and Selling at Symbotic

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 directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

Institutional Investors Weigh In On Symbotic

Large investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after buying an additional 509,700 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Symbotic by 76.8% in the third quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after purchasing an additional 379,726 shares during the last quarter. Vanguard Group Inc. increased its holdings in Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after buying an additional 330,709 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.