Symbotic stock forecast short interest decline from 7% to 4
Short interest decline from 7% to 4.3% in March supports a stronger Symbotic stock forecast, aided by market re-rating of advanced logistics tech plays. Symbotic Inc. (NASDAQ:SYM) is an artificial intelligence company that specializes in machine learning. The firm caters to the needs of the logistics and warehousing industry through products such as warehouse process automation. Symbotic Inc. (NASDAQ:SYM)'s target sector introduces seasonality into its earnings and places it at the mercy of the broader economy. Warehouse stocks tend to do well when economic output and consumer spending are high. Consequently, the fact that Symbotic Inc. (NASDAQ:SYM)'s shares are down 44% year-to-date is unsurprising given that industrial and other economic sectors have lagged this year. However, the firm benefits from being one of the few players of its kind, which is evident through its backlog of $22.4 billion despite a broader industrial slowdown. Symbotic Inc. (NASDAQ:SYM) also benefits from having no debt on its balance sheet which frees up considerable cash flow for operations and other purposes and a partnership with retail giant Walmart to introduce certainty into future cash flows. In related news, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $45.64, for a total transaction of $182,560.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website . Also, insider William M. Boyd III sold 2,455 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $50.58, for a total transaction of $124,173.90. Following the completion of the sale, the insider directly owned 29,429 shares of the company's stock, valued at $1,488,518.82. This trade represents a 7.70% decrease in their position. The disclosure for this sale can be found here . In the last quarter, insiders have sold 483,632 shares of company stock valued at $23,919,648. Company insiders own 0.60% of the company's stock. Symbotic stock forecast is riding the AI automation narrative, with projected CAGR exceeding 40% through 2026, driving sector-wide interest from hedge funds in high-beta tech equities.
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