Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Symbotic Inc. shares valued at $1,036,290 were sold by Dunn Michael David on May 25. At $34.54 per share, Dunn Michael David sold 30,000 shares. The insider’s holdings dropped to 79,522 shares worth approximately $2.81 million following the completion of this transaction.
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Also, Dunn Michael David sold 18,920 shares, netting a total of over 607,039 in proceeds. Following the sale of shares at $32.08 each, the insider now holds 109,522 shares.
Before that, Dunn Michael David had sold 11,080 shares from its account. In a trade valued at $355,844, the insider traded Symbotic Inc. shares for $32.12 each. Upon closing the transaction, the insider’s holdings decreased to 11,080 shares, worth approximately $4.54 million.
Analyzing SYM Stock Performance
On Thursday, Symbotic Inc. [NASDAQ: SYM] rose 9.75% to $35.34. The stock’s lowest price that day was $32.28, but it reached a high of $35.68 in the same session. During the last five days, there has been a surge of approximately 12.76%. Over the course of the year, Symbotic Inc. shares have jumped approximately 195.98%. Shares of the company reached a 52-week high of $35.68 on 05/25/23 and a 52-week low of $11.68 on 01/04/23. A 50-day SMA is recorded $26.11, while a 200-day SMA reached $16.47. Nevertheless, trading volume fell to 0.84 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for Symbotic Inc. (SYM)
According to the 24-hour chart, there is a support level at 33.19, which, if violated, would cause prices to drop to 31.03. In the upper region, resistance lies at 36.59. The next price resistance is at 37.83. RSI (Relative Strength Index) is 70.07 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.36, which suggests the price will increase in the coming days. Percent R is at 2.81%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Symbotic Inc. subject to short interest?
Stocks of Symbotic Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.46 million shares to 2.79 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 2.33 million shares. A jump of 16.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.25 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.25.
Which companies own the most shares of Symbotic Inc. (SYM)?
According to The Vanguard Group, Inc. filings, the company currently owns 1,285,685 shares, which is about 2.14% of the total SYM shares outstanding. The investor’s shares have appreciated by 1,153,086 from its previous 13-F filing of 132599.0 shares. With the completion of the buy transaction, Frontier Capital Management Co. L’s stake is now worth $27,652,785. Navis Wealth Advisors LLC acquire a 21.05% interest valued at $24.26 million while Exchange Traded Concepts LLC 609,414 stake. In its current portfolio, GO ETF Solutions LLP holds 411,472 shares valued at $10.93 million.
In terms of Symbotic Inc. share price expectations, FactSet research, analysts set an average price target of $34.00 in the next 12 months, up nearly 8.7% from the previous closing price of $32.20. Analysts anticipate Symbotic Inc. stock to reach $36.00 by 2023, with the lowest price target being $30.00. In spite of this, 13 analysts ranked Symbotic Inc. stock as a Buy at the end of 2023.