Symbotic (NASDAQ:SYM) Given Sell Rating at BWS Financial

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating reiterated by equities researchers at BWS Financial in a note issued to investors on Tuesday,Benzinga reports. They presently have a $10.00 price objective on the stock. BWS Financial’s price objective would indicate a potential downside of 67.17% from the stock’s previous close.

A number of other analysts have also commented on SYM. UBS Group dropped their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of Symbotic in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. TD Cowen boosted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, William Blair restated a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and an average target price of $38.73.

Symbotic Trading Up 2.3 %

Shares of NASDAQ:SYM traded up $0.70 during mid-day trading on Tuesday, hitting $30.46. 346,687 shares of the company traded hands, compared to its average volume of 2,628,899. The stock has a market cap of $17.89 billion, a P/E ratio of -511.33, a P/E/G ratio of 6.88 and a beta of 1.76. The stock has a 50-day moving average price of $27.85 and a two-hundred day moving average price of $27.39. Symbotic has a 12-month low of $17.11 and a 12-month high of $52.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same period in the prior year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, analysts expect that Symbotic will post 0.14 earnings per share for the current year.

Insider Activity

In other news, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55. Following the completion of the sale, the insider now owns 87,922 shares in the company, valued at approximately $2,529,515.94. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,844 shares of company stock worth $3,268,431 over the last ninety days. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleview Partners LLC lifted its holdings in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares during the last quarter. Quarry LP bought a new stake in Symbotic during the second quarter worth about $65,000. Arcadia Investment Management Corp MI bought a new position in Symbotic during the third quarter valued at approximately $49,000. RiverPark Advisors LLC raised its stake in shares of Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring 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.