SkyWater Technology (NASDAQ:SKYT) Trading 7.3% Higher – Here’s What Happened

SkyWater Technology, Inc. (NASDAQ:SKYT) shot up 7.3% during trading on Friday . The company traded as high as $14.45 and last traded at $14.45. 229,711 shares were traded during trading, a decline of 54% from the average session volume of 503,435 shares. The stock had previously closed at $13.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SKYT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler lifted their price target on 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 debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market capitalization of $688.63 million, a price-to-earnings ratio of -41.29 and a beta of 3.72. The firm’s 50-day moving average price is $10.35 and its two-hundred day moving average price is $9.11.

Insider Buying and Selling

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 42.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in SkyWater Technology in the third quarter valued at about $35,000. Victory Capital Management Inc. increased its stake in SkyWater Technology by 4.2% during the 2nd quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock worth $728,000 after purchasing an additional 3,850 shares in the last quarter. Allworth Financial LP bought a new position in SkyWater Technology in the third quarter valued at approximately $41,000. XTX Topco Ltd raised its holdings in shares of SkyWater Technology by 19.5% during the second quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock worth $236,000 after acquiring an additional 5,038 shares during the period. Finally, nVerses Capital LLC bought a new stake in SkyWater Technology in the 3rd quarter valued at $60,000. 70.00% of the stock is owned by institutional investors.

About SkyWater Technology

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.