Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Symbotic Inc. shares valued at $1,584,623 were sold by Boyd William M III on Aug 08. At $50.16 per share, Boyd William M III sold 31,593 shares. The insider’s holdings dropped to 1,193 shares worth approximately $46717.88 following the completion of this transaction.
Also, KRASNOW TODD sold 31,461 shares, netting a total of over 1,577,635 in proceeds. Following the sale of shares at $50.15 each, the insider now holds 0 shares.
Before that, KANE CHARLES had sold 31,344 shares from its account. In a trade valued at $1,571,837, the Director traded Symbotic Inc. shares for $50.15 each. Upon closing the transaction, the insider’s holdings decreased to 31,344 shares, worth approximately $2.55 million.
As published in a research note from William Blair on August 01, 2023, Symbotic Inc. [SYM] has been rated down from an Outperform to a Mkt perform.
Analyzing SYM Stock Performance
On Thursday, Symbotic Inc. [NASDAQ: SYM] plunged -2.64% to $39.16. The stock’s lowest price that day was $38.35, but it reached a high of $41.15 in the same session. During the last five days, there has been a surge of approximately 1.98%. Over the course of the year, Symbotic Inc. shares have jumped approximately 227.97%. Shares of the company reached a 52-week high of $64.14 on 07/31/23 and a 52-week low of $11.68 on 01/04/23. A 50-day SMA is recorded $44.89, while a 200-day SMA reached $26.05. Nevertheless, trading volume fell to 0.84 million shares from 0.87 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 37.96, which, if violated, would cause prices to drop to 36.75. In the upper region, resistance lies at 40.76. The next price resistance is at 42.35. RSI (Relative Strength Index) is 43.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.15, which suggests the price will decrease in the coming days. Percent R is at 82.75%, indicating bearish price movement. Stochastics %K at buying 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 Jul 30, 2023 jumping by 0.36 million shares to 5.93 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 5.57 million shares. A jump of 6.07% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.56 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.56.
Which companies own the most shares of Symbotic Inc. (SYM)?
According to The Vanguard Group, Inc. filings, the company currently owns 2,083,463 shares, which is about 2.58% of the total SYM shares outstanding. The investor’s shares have appreciated by 797,778 from its previous 13-F filing of 1285685.0 shares. First Trust Advisors LP acquire a 128.13% interest valued at $41.49 million while Global X Management Co. LLC purchased a 151,204 stake. A total of 209,692 shares of Symbotic Inc. were bought by Fidelity Management & Research Co during the quarter, and -50,732 were sold by Exchange Traded Concepts LLC. In its current portfolio, Raymond James & Associates, Inc. holds 420,372 shares valued at $26.71 million.