As of Wednesday, SkyWater Technology Inc.’s (NASDAQ:SKYT) stock closed at $9.37, up from $9.30 the previous day. While SkyWater Technology Inc. has overperformed by 0.75%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKYT fell by -50.45%, with highs and lows ranging from $20.95 to $4.43, whereas the simple moving average fell by -0.05% in the last 200 days.
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On April 26, 2022, Craig Hallum started tracking SkyWater Technology Inc. (NASDAQ: SKYT) recommending Buy. A report published by Jefferies on August 05, 2021, Downgraded its rating to ‘Hold’ for SKYT. Needham also rated SKYT shares as ‘Buy’, setting a target price of $40 on the company’s shares in an initiating report dated July 16, 2021. Piper Sandler Initiated an Overweight rating on May 17, 2021, and assigned a price target of $25. Jefferies initiated its ‘Buy’ rating for SKYT, as published in its report on May 17, 2021. Cowen’s report from May 17, 2021 suggests a price prediction of $26 for SKYT shares, giving the stock a ‘Outperform’ rating.
Analysis of SkyWater Technology Inc. (SKYT)
Further, the quarter-over-quarter increase in sales is 49.40%, showing a positive trend in the upcoming months.
One of the most important indicators of SkyWater Technology Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -138.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and SKYT is recording 321.32K average volume. On a monthly basis, the volatility of the stock is set at 8.68%, whereas on a weekly basis, it is put at 7.26%, with a gain of 4.00% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.40, showing growth from the present price of $9.37, which can serve as yet another indication of whether SKYT is worth investing in or should be passed over.
How Do You Analyze SkyWater Technology Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 19.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 12.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SKYT shares?
The recent increase in stakes in SKYT appears to be a result of several institutional investors and hedge funds increasing their positions. Emerald Advisers LLC’s position in SKYT has decreased by -34.19% in the first quarter. The company now owns 644,588 shares of the stock, with a value of $5.23 million, following the sale of -334,839 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in SKYT during the first quarter, upping its stake by 9.62%. During the last quarter, the company dropped down 48,701 additional shares for a total stake of worth $4.5 million, bringing number of shares owned by the company to 554,761.
During the first quarter, Emerald Mutual Fund Advisers Trus subtracted a -317,090 position in SKYT. The Vanguard Group, Inc. purchased an additional 6154.0 shares in the last quarter, increasing its holdings by 1.39%, now holding 0.45 million shares worth $3.64 million. At the end of the first quarter, Mairs & Power, Inc. decreased its SKYT holdings by -0.12% and now holds 0.2 million SKYT shares valued at $1.66 million with the lessened 255.0 shares during the period. SKYT shares are owned by institutional investors to the tune of 12.40% at present.