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

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

Other equities research analysts have also issued research reports about the company. Vertical Research assumed coverage on Symbotic in a research note on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price objective for the company. Craig Hallum dropped their price target on Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group dropped their price target on Symbotic from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Northland Securities lifted their price target on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.36.

Symbotic Stock Down 21.5 %

NASDAQ:SYM traded down $7.66 during trading hours on Tuesday, hitting $27.97. 5,250,452 shares of the company’s stock traded hands, compared to its average volume of 1,398,663. The firm has a market cap of $16.35 billion, a P/E ratio of -116.66 and a beta of 1.87. Symbotic has a 52 week low of $26.02 and a 52 week high of $64.14. The business’s fifty day simple moving average is $37.58 and its two-hundred day simple moving average is $41.27.

Symbotic (NASDAQ:SYM) last posted 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). The business had revenue of $491.86 million for the quarter, compared to the consensus estimate of $464.56 million. Symbotic had a negative net margin of 1.27% and a positive return on equity of 5.27%. Symbotic’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. On average, analysts expect that Symbotic will post -0.03 EPS for the current year.

Insider Transactions at Symbotic

In other 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $38.71, for a total value of $341,654.46. Following the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $890,794.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Ladensohn sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 152,107 shares of company stock valued at $6,030,707 in the last ninety days. 38.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp purchased a new stake in shares of Symbotic in the 4th quarter worth $26,000. RiverPark Advisors LLC purchased a new stake in shares of Symbotic in the 1st quarter worth $37,000. Pingora Partners LLC purchased a new stake in shares of Symbotic in the 4th quarter worth $51,000. Global Retirement Partners LLC increased its stake in shares of Symbotic by 166.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares in the last quarter. Finally, TFC Financial Management Inc. increased its stake in shares of Symbotic by 97.1% in the 4th quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after purchasing an additional 604 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.