In the latest trading session, 0.46 million SkyWater Technology Inc (NASDAQ:SKYT) shares changed hands as the company’s beta touched 3.51. With the company’s most recent per share price at $13.16 changed hands at -$0.59 or -4.29% at last look, the market valuation stands at $693.20M. SKYT’s current price is a discount, trading about -44.38% off its 52-week high of $19.00. The share price had its 52-week low at $5.63, which suggests the last value was 57.22% up since then. When we look at SkyWater Technology Inc’s average trading volume, we note the 10-day average is 2.17 million shares, with the 3-month average coming to 647.00K.
Analysts gave the SkyWater Technology Inc (SKYT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended SKYT as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. SkyWater Technology Inc’s EPS for the current quarter is expected to be -0.04.
SkyWater Technology Inc (NASDAQ:SKYT) trade information
Instantly SKYT was in red as seen in intraday trades today. With action 29.53%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 36.80%, with the 5-day performance at 29.53% in the green. However, in the 30-day time frame, SkyWater Technology Inc (NASDAQ:SKYT) is 51.79% up. Looking at the short shares, we see there were 2.33 million shares sold at short interest cover period of 4.82 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9, meaning bulls need a downside of -46.22% from its recent market value. According to analyst projections, SKYT’s forecast low is 9 with 9 as the target high. To hit the forecast high, the stock’s price needs a 31.61% surge from its current level, while the stock would need to tank 31.61% for it to hit the projected low.
SkyWater Technology Inc (SKYT) estimates and forecasts
Data shows that the SkyWater Technology Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 76.41% over the past 6 months, a 70.59% in annual growth rate that is considerably higher than the industry average of -1.50%. Year-over-year growth is forecast to reach 18.97% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of 74.25M. 4 analysts are of the opinion that SkyWater Technology Inc’s revenue for the current quarter will be 66.45M. The company’s revenue for the corresponding quarters a year ago was 79.15M and 79.64M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.20%. The estimates for the next quarter sales put growth at -16.56%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -231.04%. The 2024 estimates are for SkyWater Technology Inc earnings to increase by 72.59%, but the outlook for the next 5-year period is at 20.00% per year.
SKYT Dividends
SkyWater Technology Inc is expected to release its next quarterly earnings report in January.
SkyWater Technology Inc (NASDAQ:SKYT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 52.46% of SkyWater Technology Inc shares while 27.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.72%. There are 27.44% institutions holding the SkyWater Technology Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 3.3194% of the shares, roughly 1.56 million SKYT shares worth $11.96 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 2.9312% or 1.38 million shares worth $10.56 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 815.62 shares estimated at $10.7 million under it, the former controlled 1.71% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.50% of the shares, roughly 717.16 shares worth around $9.41 million.
