SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) gapped up prior to trading on Thursday . The stock had previously closed at $15.76, but opened at $16.73. SkyWater Technology shares last traded at $15.54, with a volume of 569,054 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on SKYT shares. Needham & Company LLC restated 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 increased their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

SkyWater Technology Price Performance

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 firm has a market capitalization of $655.27 million, a PE ratio of -39.29 and a beta of 3.72. The firm has a 50-day simple moving average of $9.55 and a 200-day simple moving average of $8.71.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the sale, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKYT. Quarry LP purchased a new position in SkyWater Technology during the third quarter valued at approximately $35,000. Victory Capital Management Inc. lifted its stake in shares of SkyWater Technology by 4.2% during the 2nd 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 purchased a new stake in SkyWater Technology in the 3rd quarter worth $41,000. XTX Topco Ltd lifted its holdings in SkyWater Technology by 19.5% in the 2nd quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock worth $236,000 after purchasing an additional 5,038 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of SkyWater Technology in the third quarter worth $60,000. 70.00% of the stock is currently owned by institutional investors.

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.