Symbotic Inc (NASDAQ:SYM) price on Wednesday, December 04, rose 2.47% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $26.13.
A look at the stock’s price movement, the close in the last trading session was $25.50, moving within a range at $24.9006 and $26.22. The beta value (5-Year monthly) was 1.813. Turning to its 52-week performance, $58.58 and $17.11 were the 52-week high and 52-week low respectively. Overall, SYM moved -8.41% over the past month.
Symbotic Inc’s market cap currently stands at around $15.31 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 498.8M for the company’s revenue for the quarter, with a low and high estimate of 480M and 526.5M respectively. The average forecast suggests up to a 35.38% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.34B, representing a 28.40% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SYM is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 10 recommend SYM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SYM’s current price about -18.63% and -10.19% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.02, while 7-day volatility ratio is 12.48% and 9.20% in the 30-day chart. Further, Symbotic Inc (SYM) has a beta value of 1.74, and an average true range (ATR) of 3.45. Analysts have given the company’s stock an average 52-week price target of $40, forecast between a low of $29 and high of $59. Looking at the price targets, the low is -10.98% off current price level while to achieve the yearly target high, price needs to move -125.79%. Nonetheless, investors will most likely welcome a -53.08% jump to $40 which is the analysts’ median price.
If we refocus on Symbotic Inc (NASDAQ:SYM), historical trading data shows that trading volumes averaged 6.09 over the past 10 days and 2.34 million over the past 3 months. The company’s latest data on shares outstanding shows there are 104.69 million shares.
The 62.06% of Symbotic Inc’s shares are in the hands of company insiders while institutional holders own 37.31% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 13.59 million on 2024-10-31, giving us a short ratio of 9.57. The data shows that as of 2024-10-31 short interest in Symbotic Inc (SYM) stood at 3436.9999999999995 of shares outstanding, with shares short falling to 15.29 million registered in 2024-09-30. Current price change has pushed the stock -49.09% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SYM stock continues to rise going into the next quarter.
