Symbotic (NASDAQ:SYM) Earns Sell Rating from BWS Financial

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating restated by investment analysts at BWS Financial in a report released on Wednesday,Benzinga reports. They presently have a $10.00 target price on the stock. BWS Financial’s price target would suggest a potential downside of 53.28% from the company’s current price.

A number of other equities analysts have also commented on the stock. UBS Group decreased their price target on shares of Symbotic from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Raymond James cut Symbotic from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Northland Securities increased their price objective on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup restated a “buy” rating and issued a $37.00 target price on shares of Symbotic in a research report on Monday, January 13th. Finally, William Blair reissued a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Symbotic presently has a consensus rating of “Hold” and an average price target of $38.20.

Symbotic Stock Up 2.4 %

NASDAQ SYM opened at $21.41 on Wednesday. The company has a market cap of $12.59 billion, a PE ratio of -301.91, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. The firm’s 50-day simple moving average is $25.09 and its two-hundred day simple moving average is $26.73. Symbotic has a 52 week low of $17.11 and a 52 week high of $48.98.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. As a group, equities research analysts anticipate that Symbotic will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $22.31, for a total value of $54,771.05. Following the sale, the insider now directly owns 39,659 shares of the company’s stock, valued at approximately $884,792.29. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,442 shares of company stock valued at $2,120,023. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently bought and sold shares of SYM. IFP Advisors Inc increased its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Symbotic during the 4th quarter worth about $47,000. Private Trust Co. NA bought a new position in Symbotic during the 4th quarter valued at about $47,000. Jones Financial Companies Lllp raised its position in Symbotic by 154.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company’s stock worth $58,000 after purchasing an additional 1,490 shares during the period. Finally, Quarry LP boosted its position in shares of Symbotic by 89.9% during the third quarter. Quarry LP now owns 3,508 shares of the company’s stock valued at $86,000 after buying an additional 1,661 shares during the period.

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.