Voloridge Investment Management L recently announced the acquisition of new stake in Symbotic Inc (NASDAQ:SYM). The institutional investor has increased its shareholding in the Industrials company by 169.15% to 0.74 million shares with purchase of 0.47 million shares. This fresh investment now brings its stake to 0.92% valued currently at $25.23 million. In addition, Raymond James & Associates, Inc. raised its holdings by 82116.0 to 0.5 million shares. And Two Sigma Investments LP has lifted its position by 4,901.42% or 0.36 million shares – to 0.37 million shares.
With over 9.67 million Symbotic Inc (SYM) shares trading Tuesday and a closing price of $52.08 on the day, the dollar volume was approximately $503.52 million. The shares have shown a positive half year performance of 67.24% and its price on 11/21/23 gained nearly 40.15%. Currently, there are 82.11M common shares owned by the public and among those 33.33M shares have been available to trade.
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Insiders at the company have transacted a total of 73 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 53,956,293 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 27,174,167 shares.
The top 3 mutual fund holders in Symbotic Inc are Vanguard Total Stock Market ETF, Global X Robotics & Artificial In, and Fidelity Trend Fund. Vanguard Total Stock Market ETF owns 0.78 million shares of the company’s stock, all valued at over $26.65 million. The company sold 1261.0 shares recently to bring their total holdings to about 0.97% of the shares outstanding. Fidelity Trend Fund now owns shares totaling to 0.68% of the shares outstanding.
Shares of Symbotic Inc (NASDAQ: SYM) opened at $48.00, up $10.84 from a prior closing price of $37.16. However, the script later moved the day high at 52.84, up 40.15%. The company’s stock has a 5-day price change of 45.11% and 29.49% over the past three months. SYM shares are trading 336.18% year to date (YTD), with the 12-month market performance up to 454.63% higher. It has a 12-month low price of $9.58 and touched a high of $64.14 over the same period. SYM has an average intraday trading volume of 930.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 46.14%, 46.38%, and 56.10% respectively.
Institutional ownership of Symbotic Inc (NASDAQ: SYM) shares accounts for 15.58% of the company’s 82.11M shares outstanding. Mutual fund holders own 7.68%, while other institutional holders and individual stakeholders account for 8.28% and 121.34% respectively.
It has a market capitalization of $4.21B and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$0.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.54% over the week and 8.21% over the month.
Analysts forecast that Symbotic Inc (SYM) will achieve an EPS of -$0.07 for the current quarter, -$0.06 for the next quarter and $0.57 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 29335.15%, and 138.70% over the next financial year.
Looking at the support for the SYM, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on October 03, 2023, with the firm’s price target at $50.
