Symbotic Inc (NASDAQ: SYM): Performance Review And Growth Outlook

In the last trading session, 1.86 million Symbotic Inc (NASDAQ:SYM) shares changed hands as the company’s beta touched 1.72. With the company’s per share price at $37.16 changed hands at -$0.04 or -0.11% during last session, the market valuation stood at $3.00B. SYM’s last price was a discount, traded about -72.6% off its 52-week high of $64.14. The share price had its 52-week low at $8.81, which suggests the last value was 76.29% up since then. When we look at Symbotic Inc’s average trading volume, we note the 10-day average is 0.93 million shares, with the 3-month average coming to 914.74K.

Symbotic Inc (NASDAQ:SYM) trade information

Instantly SYM was in red as seen at the end of in last trading. With action 12.03%, the performance over the past five days has been green. The drop to weekly highs of 39.08 on Monday, 11/20/23 subtracted -0.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 211.22%, with the 5-day performance at 12.03% in the green. However, in the 30-day time frame, Symbotic Inc (NASDAQ:SYM) is -10.18% down. Looking at the short shares, we see there were 7.08 million shares sold at short interest cover period of 7.35 days.

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Symbotic Inc (SYM) estimates and forecasts

Data shows that the Symbotic Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 19.37% over the past 6 months, a -227.27% in annual growth rate that is considerably lower than the industry average of 12.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Symbotic Inc will fall -20.00%, while the growth in revenue is estimated to hit 41.70% for the next quarter. Year-over-year growth is forecast to reach 333.50% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $306.9 million. 12 analysts are of the opinion that Symbotic Inc’s revenue for the quarter ending Dec 2023 will be $348.62 million. The company’s revenue for the corresponding quarters a year ago was $244.41 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 25.60%.

The 2023 estimates are for Symbotic Inc earnings to increase by 16092.41%.

SYM Dividends

Symbotic Inc is expected to release its next quarterly earnings report on November 20.

Symbotic Inc (NASDAQ:SYM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 28.24% of Symbotic Inc shares while 61.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.23%. There are 61.16% institutions holding the Symbotic Inc stock share, with Softbank Group Corporation the top institutional holder. As of Jun 29, 2023, the company held 27.21% of the shares, roughly 22.0 million SYM shares worth $941.82 million.

SB Global Advisers Ltd holds the second largest percentage of outstanding shares, with 24.73% or 20.0 million shares worth $238.8 million as of Dec 30, 2022.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 0.78 million shares estimated at $33.6 million under it, the former controlled 0.97% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 0.78% of the shares, roughly 0.63 million shares worth around $27.16 million.

On Key

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