Taking the lead: SkyWater Technology Inc. (SKYT)

SkyWater Technology Inc. (NASDAQ: SKYT) stock fell -0.80% on Friday to $6.18 against a previous-day closing price of $6.23. With 0.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.36 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $6.21 whereas the lowest price it dropped to was $6.03. The 52-week range on SKYT shows that it touched its highest point at $15.99 and its lowest point at $6.09 during that stretch. It currently has a 1-year price target of $16.80. Beta for the stock currently stands at 4.23.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SKYT was down-trending over the past week, with a drop of -5.94%, but this was down by -10.56% over a month. Three-month performance dropped to -34.53% while six-month performance fell -47.27%. The stock lost -37.76% in the past year, while it has lost -13.08% so far this year. A look at the trailing 12-month EPS for SKYT yields -0.53 with Next year EPS estimates of 0.22. For the next quarter, that number is -0.16. This implies an EPS growth rate of 44.50% for this year and 148.90% for next year.

Float and Shares Shorts:

At present, 44.74 million SKYT shares are outstanding with a float of 19.70 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.28 million, which was 2.78% higher than short shares on Jul 30, 2023. In addition to Mr. Thomas J. Sonderman as the firm’s Pres, CEO & Director, Mr. Steve Manko serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 20.44% of SKYT’s outstanding shares, institutional investors have minority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, SKYT reported revenue of $47.41M and operating income of -$11.08M. The EBITDA in the recently reported quarter was -$3.88M and diluted EPS was -$0.32.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SKYT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SKYT analysts setting a high price target of $20.00 and a low target of $10.00, the average target price over the next 12 months is $16.80. Based on these targets, SKYT could surge 223.62% to reach the target high and rise by 61.81% to reach the target low. Reaching the average price target will result in a growth of 171.84% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SKYT stock several times over the past three months with 0 Buys and 17 Sells. In these transactions, 0 shares were bought while 406,216 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 105 over the past year. The total number of shares bought during that period was 439,796 while 3,476,534 shares were sold.

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