Keeping an Eye on Symbotic Inc. (SYM) After Insider Trading Activity

ZOM Stock
ZOM Stock

Symbotic Inc.’s recent filing unveils that its Chief Financial Officer Ernst Thomas C JR unloaded Company’s shares for reported $1.55 million on Aug 30. In the deal valued at $39.05 per share,39,723 shares were sold. As a result of this transaction, Ernst Thomas C JR now holds 426 shares worth roughly $ 13836.48.

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Then, Boyd William M III sold 39,625 shares, generating $1,547,353 in total proceeds. Upon selling the shares at $39.05, the Chief Strategy Officer now owns 1,193 shares.

Before that, KANE CHARLES sold 22,982 shares. Symbotic Inc. shares valued at $897,446 were divested by the Director at a price of $39.05 per share. As a result of the transaction, KANE CHARLES now holds 65,000 shares, worth roughly $2.11 million.

William Blair downgraded its Symbotic Inc. [SYM] rating to a Mkt perform from a an Outperform in a research note published on Monday.

Price Performance Review of SYM

On Monday, Symbotic Inc. [NASDAQ:SYM] saw its stock jump 1.98% to $32.48. On the same session, the stock had its day’s lowest price of $31.51, but rose to a high of $33.40. Over the last five days, the stock has lost -7.01%. Symbotic Inc. shares have risen nearly 172.03% since the year began. Nevertheless, the stocks have risen 142.57% over the past one year. While a 52-week high of $64.14 was reached on 07/31/23, a 52-week low of $8.75 was recorded on 01/04/23. SMA at 50 days reached $42.78, while 200 days put it at $28.16. A total of 0.7 million shares were traded, compared to the trading of 0.82 million shares in the previous session.

Levels Of Support And Resistance For SYM Stock

The 24-hour chart illustrates a support level at 31.53, which if violated will result in even more drops to 30.57. On the upside, there is a resistance level at 33.42. A further resistance level may holdings at 34.35. The Relative Strength Index (RSI) on the 14-day chart is 35.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.85%. Stochastics %K at 9.02% indicates the stock is a buying.

How much short interest is there in Symbotic Inc.?

A steep rise in short interest was recorded in Symbotic Inc. stocks on Aug 30, 2023, growing by 0.12 million shares to a total of 6.05 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 5.93 million shares. There was a rise of 1.98%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 16.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.68.

Symbotic Inc. [SYM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 2,083,463 shares, or roughly 2.58% of the outstanding SYM shares. In other words, the investor’s shares have risen by 797,778 from its previous 13-F filing of 1285685.0.. Over the last quarter, Global X Management Co. LLC purchased 151,204 shares of Symbotic Inc., while Fidelity Management & Research Co bought 209,692 shares. At present, Exchange Traded Concepts LLC is holding 558,682 shares valued at $23.35 million. Raymond James & Associates, Inc. owned 420,372 shares of the company at the time of its most recent 13F filing, worth $17.57 million.


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