Symbotic Inc [NASDAQ: SYM] price plunged by -2.96 percent to reach at -$1.21. The company report on February 21, 2024 at 8:30 PM that Symbotic Announces Pricing of Primary and Secondary Offering of Class A Common Stock.
Symbotic currently intends to use the net proceeds from the Offering for general corporate purposes. The Selling Securityholders will receive all the net proceeds from the sale of shares of Class A common stock sold by them in the Offering. The Offering is expected to close on February 26, 2024, subject to customary closing conditions.
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The one-year SYM stock forecast points to a potential upside of 27.76. The average equity rating for SYM stock is currently 1.57, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Symbotic Inc [SYM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SYM shares is $54.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SYM stock is a recommendation set at 1.57. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DA Davidson have made an estimate for Symbotic Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 07, 2024. While these analysts kept the previous recommendation, Needham dropped their target price from $58 to $54. The new note on the price target was released on February 06, 2024, representing the official price target for Symbotic Inc stock. Previously, the target price had yet another raise to $50, while KeyBanc Capital Markets analysts kept a Overweight rating on SYM stock.
The Average True Range (ATR) for Symbotic Inc is set at 3.37, with the Price to Sales ratio for SYM stock in the period of the last 12 months amounting to 15.77. The Price to Book ratio for the last quarter was 21.03, with the Price to Cash per share for the same quarter was set at 1.27. Price to Free Cash Flow for SYM in the course of the last twelve months was 256.65 with Quick ratio for the last quarter at 0.98.
SYM Stock Performance Analysis:
Symbotic Inc [SYM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.09. With this latest performance, SYM shares dropped by -12.29% in over the last four-week period, additionally plugging by 5.42% over the last 6 months – not to mention a rise of 134.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SYM stock in for the last two-week period is set at 42.09, with the RSI for the last a single of trading hit 38.68, and the three-weeks RSI is set at 44.05 for Symbotic Inc [SYM]. The present Moving Average for the last 50 days of trading for this stock 46.27, while it was recorded at 42.09 for the last single week of trading, and 41.56 for the last 200 days.
Insight into Symbotic Inc Fundamentals:
Symbotic Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.98 and a Current Ratio set at 1.11.
SYM Stock EPS
With the latest financial reports released by the company, Symbotic Inc posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -233.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SYM.
Symbotic Inc [SYM] Institutonal Ownership Details
The top three institutional holders of SYM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SYM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SYM stock with ownership which is approximately 5.8325%.
