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

BWS Financial reissued their sell rating on shares of Symbotic (NASDAQ:SYM) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $10.00 target price on the stock. BWS Financial also issued estimates for Symbotic’s FY2024 earnings at ($0.06) EPS and FY2025 earnings at $0.43 EPS.

Other analysts also recently issued research reports about the company. Vertical Research began coverage on Symbotic in a research report on Tuesday, July 23rd. They issued a hold rating and a $45.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Northland Securities increased their target price on Symbotic from $55.00 to $60.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Needham & Company LLC dropped their target price on Symbotic from $54.00 to $40.00 and set a buy rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group dropped their target price on Symbotic from $46.00 to $40.00 and set a neutral rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $43.23.

Symbotic Trading Down 3.7 %

Shares of SYM stock opened at $23.70 on Tuesday. The stock has a 50 day moving average of $36.25 and a two-hundred day moving average of $40.82. Symbotic has a 12 month low of $22.54 and a 12 month high of $62.37. The company has a market capitalization of $13.86 billion, a P/E ratio of -98.75 and a beta of 1.86.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a positive return on equity of 5.05% and a negative net margin of 1.03%. The firm had revenue of $491.86 million during the quarter, compared to the consensus estimate of $464.56 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Symbotic’s revenue was up 57.7% compared to the same quarter last year. Sell-side analysts predict that Symbotic will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $890,794.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $890,794.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Janet L. Cohen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $43.26, for a total value of $1,081,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,107 shares of company stock valued at $5,950,707. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp bought a new position in Symbotic during the fourth quarter worth about $26,000. RiverPark Advisors LLC bought a new position in Symbotic during the first quarter worth about $37,000. Pingora Partners LLC bought a new position in Symbotic during the fourth quarter worth about $51,000. Global Retirement Partners LLC lifted its holdings in Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in Symbotic by 97.1% during the fourth quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after acquiring an additional 604 shares in the last quarter.

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.