Zacks Research downgraded Symbotic Inc. from hold to strong sell on Tuesday. The firm cited a mixed financial performance and significant insider selling for the move.
Symbotic recently exceeded revenue expectations but missed earnings per share forecasts. The company has not yet achieved profitability.
Insiders sold approximately $8.2 million in shares over the last 90 days. This bearish signal contrasts with other analysts who maintain buy ratings for the stock.