SkyWater Technology (NASDAQ:SKYT) Shares Gap Down – Time to Sell?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.16, but opened at $13.40. SkyWater Technology shares last traded at $12.04, with a volume of 436,862 shares trading hands.

Analyst Ratings Changes

SKYT has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler raised 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 Price Performance

The stock has a market capitalization of $569.97 million, a price-to-earnings ratio of -34.17 and a beta of 3.43. The company’s 50-day simple moving average is $10.69 and its 200-day simple moving average is $9.33. 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

In other news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the transaction, the director now directly owns 12,806,264 shares of the company’s stock, 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 can be accessed through this hyperlink. 42.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SkyWater Technology

A number of large investors have recently bought and sold shares of the company. Quarry LP bought a new position in shares of SkyWater Technology in the 3rd quarter valued at $35,000. Victory Capital Management Inc. boosted its stake in SkyWater Technology by 4.2% in the second quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock valued at $728,000 after buying 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 about $41,000. XTX Topco Ltd raised its stake in 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 in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of SkyWater Technology in the third quarter worth about $60,000. 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.