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

BWS Financial restated their sell rating on shares of Symbotic (NASDAQ:SYM - Free Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $10.00 price target on the stock.

A number of other research firms have also commented on SYM. The Goldman Sachs Group lowered their price target on shares of Symbotic from $40.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. KeyCorp boosted their price target on Symbotic from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday. Robert W. Baird reduced their price target on Symbotic from $53.00 to $41.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 31st. Northland Securities lifted their price objective on Symbotic from $50.00 to $53.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Craig Hallum cut their price target on Symbotic from $54.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.31.

Symbotic Stock Performance

SYM traded up $8.46 during trading on Tuesday, reaching $39.02. 10,119,509 shares of the stock were exchanged, compared to its average volume of 1,609,969. The stock's 50 day moving average price is $27.00 and its two-hundred day moving average price is $31.09. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82. The stock has a market cap of $22.85 billion, a P/E ratio of -205.37 and a beta of 1.81.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts' consensus estimates of $0.05. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same quarter last year, the firm posted ($0.08) EPS. The company's quarterly revenue was up 47.2% on a year-over-year basis. Equities research analysts predict that Symbotic will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other news, insider William M. Boyd III sold 8,826 shares of Symbotic stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares of the company's stock, valued at approximately $651,929.96. The trade was a 27.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,878 shares of company stock worth $1,378,056. 38.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Symbotic

Several large investors have recently modified their holdings of SYM. Castleview Partners LLC boosted its position in Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Symbotic in the 3rd quarter worth approximately $49,000. RiverPark Advisors LLC lifted its position in Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock valued at $50,000 after acquiring an additional 1,211 shares during the last quarter. RFP Financial Group LLC boosted its stake in Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company's stock valued at $59,000 after acquiring an additional 310 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company's stock worth $62,000 after purchasing an additional 2,510 shares during 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.