Hamed Khorsand, an analyst from BWS Financial, maintained the Sell rating on Symbotic (SYM – Research Report). The associated price target remains the same with $10.00.
Hamed Khorsand has given his Sell rating due to a combination of factors that raise concerns about Symbotic’s current operations and future prospects. The company’s recent fiscal second quarter results have not alleviated existing worries, as they presented more questions than answers. Despite reporting the deployment of two additional systems, there was no change in the number of live locations since October 2024, indicating potential stagnation in their operational expansion.
Moreover, the acquisition of Advanced Systems & Robotics led to significant layoffs, with no clear explanation provided, which could signal underlying issues within the company. Additionally, the work done for related entities like GreenBox and C&S Wholesale Grocers has resulted in increased accounts receivable, suggesting potential cash flow challenges. These factors collectively contribute to the decision to maintain a Sell rating for Symbotic’s stock.