About
Symbotic Inc. (NASDAQ:SYM) shares dropped 17.40% to $60.48 after announcing plans to issue 10 million new shares, affecting investor sentiment.
Symbotic Inc. (NASDAQ:SYM) experienced a significant increase in trading volume, with shares rising 134% from the previous session. Analysts have mixed ratings, with Oppenheimer giving an "outperform" rating and Goldman Sachs downgrading to "sell." The stock's average price target is $56.07. Recent insider sales and institutional investments are noted. Symbotic reported a quarterly revenue increase of 9.5% year-over-year, despite missing earnings estimates.
Morgan Stanley raised its price target for Ciena (NYSE:CIEN) from $140.00 to $185.00, maintaining an "equal weight" rating. This suggests a potential downside of 5.52% from the current stock price. Other analysts have varied ratings, with a consensus of "Moderate Buy" and a target of $156.20. Ciena's stock performance shows a 52-week high of $214.17 and a market cap of $27.62 billion. Recent insider trading and hedge fund activities are also noted.
Lumentum Holdings rose 3.71% in pre-market; SMX Security Matters rose 100.00% in pre-market; Wheeler Real Estate rose 76.82% in pre-market; Dreamland rose 55.88% in pre-market
Symbotic's shares fell 5% to $57.45 after a $550 million stock offering priced at $55, a 9.1% discount. SoftBank offloaded 3.5 million shares, reducing its stake. The company plans to use proceeds for general purposes. SYM shares had previously surged 39% after Q4 revenue growth. Analysts rate the stock as "hold" with a median price target of $60.50.