In the last trading session, 1.17 million shares of the SkyWater Technology Inc (NASDAQ:SKYT) were traded, and its beta was 3.63. Most recently the company’s share price was $14.91, and it changed around -$1.15 or -7.16% from the last close, which brings the market valuation of the company to $659.67M. SKYT currently trades at a discount to its 52-week high of $19.00, offering almost -27.43% off that amount. The share price’s 52-week low was $5.63, which indicates that the current value has risen by an impressive 62.24% since then. We note from SkyWater Technology Inc’s average daily trading volume that its 10-day average is 2.5 million shares, with the 3-month average coming to 709.30K.
SkyWater Technology Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended SKYT as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. SkyWater Technology Inc is expected to report earnings per share of -0.04 for the current quarter.
SkyWater Technology Inc (NASDAQ:SKYT) trade information
Instantly SKYT has showed a red trend with a performance of -7.16% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 16.29 on recent trading dayincreased the stock’s daily price by 8.47%. The company’s shares are currently up 54.99% year-to-date, but still up 19.86% over the last five days. On the other hand, SkyWater Technology Inc (NASDAQ:SKYT) is 82.05% up in the 30-day period. We can see from the shorts that 2.43 million shares have been sold at a short interest cover period of 5.31 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to decrease their stock price by -65.67% from its current value. Analyst projections state that SKYT is forecast to be at a low of $9 and a high of $9.
SkyWater Technology Inc (SKYT) estimates and forecasts
SkyWater Technology Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 94.90 percent over the past six months and at a 70.59% annual growth rate that is well above the industry average of -1.50%. The year-over-year growth rate is expected to be 18.97%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 74.25M in revenue for the current quarter. 4 analysts expect SkyWater Technology Inc to make 66.45M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 79.15M and 79.64M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.20%. Forecasts for the next quarter put sales growth at -16.56%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -231.04%. SkyWater Technology Inc earnings are expected to increase by 72.59% in 2024, but the outlook is positive 20.00% per year for the next five years.
SKYT Dividends
SkyWater Technology Inc’s next quarterly earnings report is expected to be released in January.
SkyWater Technology Inc (NASDAQ:SKYT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 52.46% of SkyWater Technology Inc shares, and 27.44% of them are in the hands of institutional investors. The stock currently has a share float of 57.72%. SkyWater Technology Inc stock is held by 164.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 3.3194% of the shares, which is about 1.56 million shares worth $11.96 million.
VANGUARD GROUP INC, with 2.9312% or 1.38 million shares worth $10.56 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
