This morning we watched Symbotic drop -2.6% to a price of $45.27 per share. The small-cap Farm & Heavy Construction Machinery company is now trading -20.14% below its average target price of $56.69. Analysts have set target prices ranging from $40.0 to $70.0 per share for Symbotic, and have given the stock an average rating of buy.
Symbotic has an elevated short interest of 21.4%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 4.45. The company's insiders own 42.48% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 50.2% of Symbotic shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Symbotic
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Softbank Group Corporation | 26% | 22,000,000 | $995,940,010 |
| 2022-12-31 | SB Global Advisers Ltd | 24% | 20,000,000 | $905,400,009 |
| 2023-09-30 | Svf Sponsor III (de) LLC | 11% | 9,090,000 | $411,504,304 |
| 2023-09-30 | Vanguard Group Inc | 2% | 2,040,335 | $92,365,966 |
| 2023-09-30 | Voloridge Investment Management, LLC | 1% | 741,401 | $33,563,223 |
| 2023-09-30 | Mirae Asset Global Investments Co., Ltd. | 1% | 689,232 | $31,201,532 |
| 2023-09-30 | FMR, LLC | 1% | 586,162 | $26,535,554 |
| 2023-09-30 | Raymond James & Associates, Inc. | 1% | 502,488 | $22,747,631 |
| 2023-09-30 | 1832 Asset Management L.P. | 0% | 364,500 | $16,500,915 |
| 2023-09-30 | Two Sigma Investments, LP | 0% | 370,105 | $16,754,653 |
For these reasons, we consider that the Symbotic is the subject of mixed market sentiment.
