Symbotic’s (SYM) Sell Rating Reaffirmed at BWS Financial

BWS Financial reissued their sell rating on shares of Symbotic (NASDAQ:SYM) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $10.00 target price on the stock.

A number of other research analysts have also issued reports on the company. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 8th. Oppenheimer assumed coverage on shares of Symbotic in a report on Wednesday, January 15th. They issued an “outperform” rating and a $35.00 target price on the stock. Needham & Company LLC reduced their target price on shares of Symbotic from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Citigroup reaffirmed a “buy” rating and issued a $37.00 price target on shares of Symbotic in a report on Monday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Symbotic has a consensus rating of “Hold” and an average price target of $38.20.

Symbotic Trading Up 5.4 %

SYM stock opened at $22.03 on Wednesday. The firm’s 50-day moving average is $24.86 and its two-hundred day moving average is $26.70. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of -314.67, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic has a 52 week low of $17.11 and a 52 week high of $48.98.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. On average, equities research analysts predict that Symbotic will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider William M. Boyd III sold 2,455 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the completion of the sale, the insider now directly owns 39,659 shares of the company’s stock, valued at $884,792.29. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rollin L. Ford sold 28,740 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.02, for a total value of $747,814.80. Following the completion of the sale, the director now directly owns 10,447 shares of the company’s stock, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,442 shares of company stock worth $2,071,943 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the business. Alberta Investment Management Corp acquired a new stake in shares of Symbotic in the fourth quarter worth about $586,000. Geode Capital Management LLC lifted its holdings in Symbotic by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after purchasing an additional 46,721 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Symbotic during the third quarter worth approximately $1,029,000. Capital Market Strategies LLC acquired a new position in Symbotic during the fourth quarter valued at approximately $802,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Symbotic by 10.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,074 shares of the company’s stock valued at $5,343,000 after purchasing an additional 20,469 shares during the period.

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.