SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – What’s Next?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.03, but opened at $10.44. SkyWater Technology shares last traded at $10.68, with a volume of 169,270 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SKYT shares. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler increased their price target on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

SkyWater Technology Stock Up 7.3 %

The firm’s 50 day moving average is $11.72 and its two-hundred day moving average is $9.96. The firm has a market capitalization of $512.82 million, a P/E ratio of -30.76 and a beta of 3.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78.

Insider Buying and Selling at SkyWater Technology

In related news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total value of $71,944.47. Following the transaction, the director now owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKYT. nVerses Capital LLC bought a new position in shares of SkyWater Technology in the third quarter worth $60,000. Allworth Financial LP bought a new position in shares of SkyWater Technology in the third quarter worth $41,000. Emerald Advisers LLC increased its position in shares of SkyWater Technology by 1.7% in the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company’s stock worth $10,109,000 after purchasing an additional 18,423 shares during the period. Olympiad Research LP bought a new position in shares of SkyWater Technology in the third quarter worth $126,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of SkyWater Technology in the third quarter worth $202,000. Institutional investors own 70.00% of the company’s stock.

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.