SkyWater Technology, Inc. (NASDAQ:SKYT) Sees Significant Decrease in Short Interest

SkyWater Technology, Inc. (NASDAQ:SKYT) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 2,060,000 shares, a drop of 15.2% from the December 15th total of 2,430,000 shares. Currently, 9.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 818,200 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SKYT. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler lifted their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th.

Insider Activity

In other news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction 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 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 42.55% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

A number of large investors have recently modified their holdings of SKYT. Quarry LP bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at about $35,000. Allworth Financial LP bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at about $41,000. nVerses Capital LLC purchased a new position in SkyWater Technology during the 3rd quarter valued at about $60,000. The Manufacturers Life Insurance Company purchased a new position in SkyWater Technology during the 2nd quarter valued at about $88,000. Finally, Algert Global LLC purchased a new position in SkyWater Technology during the 2nd quarter valued at about $107,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Trading Down 2.6 %

Shares of SkyWater Technology stock opened at $11.50 on Friday. SkyWater Technology has a 12-month low of $5.63 and a 12-month high of $19.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The company’s fifty day simple moving average is $10.84 and its two-hundred day simple moving average is $9.45.

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.