Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Symbotic Inc shares valued at $69,281 were sold by Dunn Michael David on Jul 24 ’24. At $36.56 per share, Dunn Michael David sold 1,895 shares. The insider’s holdings dropped to 77,326 shares worth approximately $2.93 million following the completion of this transaction.
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Also, Dunn Michael David sold 2,000 shares, netting a total of over 80,000 in proceeds. Following the sale of shares at $40.00 each, the insider now holds 74,808 shares.
Before that, Dunn Michael David had sold 5,188 shares from its account. In a trade valued at $184,131, the insider traded Symbotic Inc shares for $35.49 each. Upon closing the transaction, the insider’s holdings decreased to 5,188 shares, worth approximately $2.91 million.
As published in their initiating research note from Vertical Research on July 23, 2024, Symbotic Inc [SYM] has been a Hold and the price target has been revised to $45. Analysts at DA Davidson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of February 06, 2024, Needham has reiterated its “Buy” rating for SYM. Earlier on October 03, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for SYM stock.
Analyzing SYM Stock Performance
During the last five days, there has been a drop of approximately -1.69%. Over the course of the year, Symbotic Inc shares have dropped approximately -26.28%. Shares of the company reached a 52-week high of $52.20 on 02/05/24 and a 52-week low of $31.26 on 06/25/24. A 50-day SMA is recorded $38.38, while a 200-day SMA reached $42.50. Nevertheless, trading volume fell to 1.55 million shares from 1.82 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 36.34, which, if violated, would cause prices to drop to 34.85. In the upper region, resistance lies at 38.79. The next price resistance is at 39.75. RSI (Relative Strength Index) is 50.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 57.99%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.