Symbotic Inc. (NASDAQ:SYM) price closed lower on Friday, September 15, dropping -2.39% below its previous close.
A look at the daily price movement shows that the last close reads $32.63, with intraday deals fluctuated between $30.88 and $32.57. The company’s 5Y monthly beta was ticking 1.68. Taking into account the 52-week price action we note that the stock hit a 52-week high of $64.14 and 52-week low of $8.75. The stock subtracted -19.00% on its value in the past month.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Symbotic Inc., which has a market valuation of $18.14 billion, is expected to release its quarterly earnings report Jul 31, 2023. Analysts tracking SYM have forecast the quarterly EPS to shrink by -0.13 per share this quarter, while the same analysts predict the annual EPS to hit -$0.42 for the year 2023 and up to -$0.04 for 2024. In this case, analysts estimate an annual EPS growth of -223.10% for the year and 90.50% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $304.94 million, with the likely lows of $290.65 million and highs of $326.1 million. The average estimate suggests sales growth for the quarter will likely rise by 24.80% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.09 billion for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow 331.60% above that which the company brought in 2023.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give SYM a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as Hold.
The overview shows that SYM’s price is at present -15.53% off the SMA20 and -26.13% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 33.49, with weekly volatility standing at 5.79%. The indicator jumps to 6.86% when calculated based on the past 30 days. Symbotic Inc. (NASDAQ:SYM)’s beta value is holding at 1.70, while the average true range (ATR) indicator is currently reading 3.00.
An analysis of the Symbotic Inc. (NASDAQ:SYM) stock in terms of its daily trading volume indicates that the 3-month average is 1.19 million. However, this figure increases on the past 10-day timeline to an average of 0.96 million.
Current records show that the company has 61.78M in outstanding shares. The insiders’ percentage holdings are 1.60% of outstanding shares while the percentage share held by institutions stands at 39.60%. The stats also highlight that short interest as of Aug 30, 2023, stood at 6.05 million shares, which puts the short ratio at the time at 4.68. From this we can glean that short interest is 7.48% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 5.93 million. But the 166.75% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
