Streetbeat News

SYM

Symbotic Inc.

https://www.symbotic.com

Industry

Shell Companies

Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

Open

30.26

Mkt cap

3.1B

Volume

867K

High

30.26

P/E Ratio

-147.45

52-wk high

59.82

Low

29.08

Div yield

N/A

52-wk low

17.11

Symbotic's (NYSE:SYM) short interest has increased by 4.43% since the last report, with 7.82 million shares sold short, representing 21.47% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 3.67%. The article suggests that an increase in short interest doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:45 pm

Beyond, Inc. (NYSE:BYON) shares plummeted over 20% due to disappointing quarterly results, missing both earnings and revenue estimates. Other stocks experienced significant movements, with companies like Golden Sun Health Technology Group Limited (NASDAQ:GSUN) and MMTec, Inc. (NASDAQ:MTC) seeing substantial gains. The article also highlights losers of the day, including Holdco Nuvo Group D.G Ltd (NASDAQ:NUVO) and The Real Good Food Company, Inc. (NASDAQ:RGF), which saw notable declines.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 6:35 pm

Symbotic Inc (NASDAQ:SYM) reported a fiscal second quarter sales beat, leading to a rise in its shares by 9.63% to $45.98. Analysts from KeyBanc Capital Markets and Needham have raised their fiscal 2024 estimates for earnings, revenue, and adjusted EBITDA, citing strong execution, innovation, and growth opportunities. KeyBanc maintains an Overweight rating with a $55 price target, while Needham reaffirms a Buy rating with a $54 target.

Portfolio Pulse from Priya Nigam

May 07, 2024 | 4:20 pm

Deutsche Bank analyst Nicole Deblase has maintained a Buy rating on Symbotic (SYM) and increased the price target from $57 to $58.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:20 pm

U.S. stocks were higher on Tuesday, with notable gains from Tempur Sealy International, Inc. (TPX) after reporting upbeat quarterly earnings despite a sales decline. Other companies like Great Lakes Dredge & Dock Corporation (GLDD), Dave Inc. (DAVE), and Fabrinet (FN) also saw significant stock price increases following better-than-expected financial results or guidance.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 2:54 pm

Zeta Global Holdings Corp. (NASDAQ:ZETA) shares surged 15% in pre-market trading after reporting better-than-expected Q1 results and raising Q2 revenue guidance. Other stocks also moved significantly in pre-market trading due to various reasons including earnings reports, acquisitions, and public offerings.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:11 pm

In Tuesday's pre-market session, industrials stocks saw significant movements. Mueller Water Products and Symbotic reported Q2 earnings, leading to a 14.8% and 12.42% increase in their stocks, respectively. Other gainers included Exela Technologies, iSun, Nauticus Robotics, and Lichen China. Conversely, Safe & Green Holdings, Rockwell Automation, Quhuo, Nxu, Sun Country Airlines, and FTAI Infrastructure experienced declines, with Rockwell Automation and FTAI Infrastructure reporting their Q2 and Q1 earnings, respectively.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 12:06 pm

Needham analyst James Ricchiuti reiterated a Buy rating on Symbotic (SYM) and maintained a $54 price target.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:33 am

Symbotic shares are trading higher following the announcement of mixed Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:58 am

Baird analyst Robert Mason maintains an Outperform rating on Symbotic (SYM) and raises the price target from $52 to $53.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:52 am

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