SkyWater Technology (NASDAQ:SKYT) Trading Down 5.5% – Should You Sell?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares fell 5.5% during trading on Wednesday . The company traded as low as $10.38 and last traded at $10.39. 216,575 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 393,404 shares. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Stock Performance

The company has a market cap of $465.30 million, a P/E ratio of -18.17 and a beta of 3.95. The stock’s 50-day moving average price is $9.27 and its 200-day moving average price is $8.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.79.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. The company had revenue of $93.33 million for the quarter, compared to analysts’ expectations of $82.50 million. SkyWater Technology had a negative net margin of 7.88% and a negative return on equity of 21.68%. Equities analysts anticipate that SkyWater Technology, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling

In other news, Director Loren A. Unterseher sold 2,673 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the transaction, the director now owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lountzis Asset Management LLC bought a new stake in SkyWater Technology during the 2nd quarter worth $2,212,000. AQR Capital Management LLC raised its position in SkyWater Technology by 183.6% in the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after purchasing an additional 77,571 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of SkyWater Technology during the third quarter valued at about $418,000. Baillie Gifford & Co. increased its stake in shares of SkyWater Technology by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock valued at $7,707,000 after buying an additional 42,649 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of SkyWater Technology in the second quarter valued at approximately $195,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Company Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.