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

21.50

Mkt cap

13B

Volume

1.5M

High

21.85

P/E Ratio

-154.64

52-wk high

50.41

Low

21.15

Div yield

N/A

52-wk low

17.11

Symbotic Inc. (NASDAQ:SYM) has initiated an underwritten public offering of 10 million shares of its Class A common stock, split evenly between the company and certain trusts and entities controlled by Richard Cohen, its founder, chairman, and CEO. The offering includes a potential additional 1.5 million shares option for underwriters. Symbotic aims to use its proceeds for general corporate purposes, while the selling securityholders will receive all net proceeds from their share sales. Goldman Sachs & Co. LLC is the sole book-running manager.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:04 pm

Shares of companies in the industrial sector are trading higher after a recent drop due to worse-than-expected January CPI data indicating a rise in inflation.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 8:32 pm

Shares of companies in the industrial sector are down due to a higher-than-expected rise in January inflation data, affecting investor sentiment and stock prices.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:38 pm

Symbotic's (NYSE:SYM) short interest has significantly increased to 43.12% of its float, with 9.08 million shares sold short. This represents a 99.91% rise since the last report, requiring an average of 7.48 days for traders to cover their short positions. This increase in short interest, which is substantially higher than its peer group average of 3.56%, may indicate a bearish market sentiment towards Symbotic, though it doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 6:45 pm

DA Davidson analyst Matt Summerville upgrades Symbotic (SYM) from Neutral to Buy and sets a $50 price target.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 11:51 am

Baird analyst Robert Mason has maintained an Outperform rating on Symbotic (SYM) but has lowered the price target from $54 to $52.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 6:45 pm

FMC Corporation's shares fell by around 10% after reporting Q4 results below market expectations. Other stocks showed significant movement, with InVivo Therapeutics and Tenax Therapeutics among the top gainers, while Sunworks and BioRestorative Therapies led the losers. Notable movements were also seen in Palantir Technologies, GE HealthCare Technologies, and Toyota Motor Corporation following their earnings reports.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 6:17 pm

In Tuesday's intraday session, several industrials stocks experienced significant movements. Agrify, Frontier Group Holdings, Energy Vault Holdings, EHang Holdings, ESS Tech, and Spirit Airlines saw their shares rise, with increases ranging from 11.83% to 26.5%. Conversely, Sunworks, Compx Intl, Pineapple Energy, Symbotic, Pixie Dust Technologies, and Erayak Power Solution Gr witnessed declines in their stock prices, with decreases ranging from 18.75% to 58.9%. Notably, Frontier Group Holdings and Symbotic released their Q4 and Q1 earnings, respectively.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:31 pm

Goldman Sachs analyst Mark Delaney has maintained a Neutral rating on Symbotic (SYM) and reduced the price target from $51 to $44.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:37 pm

Cantor Fitzgerald analyst Derek Soderberg has reiterated an Overweight rating on Symbotic (NASDAQ:SYM) and maintained a $60 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:27 pm

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