SkyWater Technology Inc. [SKYT] Is Currently -6.28 below its 200 Period Moving Avg: What Does This Mean?

SkyWater Technology Inc. [NASDAQ: SKYT] plunged by -$0.7 during the normal trading session on Tuesday and reaching a high of $12.37 during the day while it closed the day at $10.44. The company report on September 6, 2022 that SkyWater to Leverage $36.5M Department of Commerce Grant to the Florida Semiconductor Coalition to Expand its Advanced Packaging Facility Operations in Florida.

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Grant is part of $50.8M award from the Economic Development Administration’s Build Back Better Regional Challenge to grow Osceola County’s NeoCity as an innovation center for semiconductor research, design and manufacturing.

SkyWater Technology(NASDAQ: SKYT), the trusted technology realization partner, today announced that $50.8M has been awarded to Osceola County Board of County Commissioners for building Central Florida’s Semiconductor Cluster for Broad-Based Prosperity, as part of the U.S. Department of Commerce Economic Development Administration’s (EDA’s) Build Back Better Regional Challenge. The Osceola County-led Prosperity Coalition Proposal will build upon the initial success of NeoCity, by investing in infrastructure, workforce development and community reinvestment that leverages new, high-demand production processes to propel Central Florida as a leader for semiconductor research, development and manufacturing.

SkyWater Technology Inc. stock has also loss -8.02% of its value over the past 7 days. However, SKYT stock has inclined by 53.30% in the 3 months of the year. Over the past six months meanwhile, it has gained 20.00% and lost -35.64% year-on date.

The market cap for SKYT stock reached $434.10 million, with 40.20 million shares outstanding and 14.61 million shares in the current float. Compared to the average trading volume of 327.26K shares, SKYT reached a trading volume of 4058005 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SkyWater Technology Inc. [SKYT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKYT shares is $18.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKYT stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for SkyWater Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $27 to $23. The new note on the price target was released on August 05, 2021, representing the official price target for SkyWater Technology Inc. stock. Previously, the target price had yet another raise to $40, while Needham analysts kept a Buy rating on SKYT stock.

The Average True Range (ATR) for SkyWater Technology Inc. is set at 1.53, with the Price to Sales ratio for SKYT stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 10.99, with the Price to Cash per share for the same quarter was set at 0.26.

SKYT stock trade performance evaluation

SkyWater Technology Inc. [SKYT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.02. With this latest performance, SKYT shares dropped by -29.74% in over the last four-week period, additionally plugging by 20.00% over the last 6 months – not to mention a drop of -64.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKYT stock in for the last two-week period is set at 35.52, with the RSI for the last a single of trading hit 27.01, and the three-weeks RSI is set at 41.15 for SkyWater Technology Inc. [SKYT]. The present Moving Average for the last 50 days of trading for this stock 12.86, while it was recorded at 11.35 for the last single week of trading, and 10.86 for the last 200 days.

SkyWater Technology Inc. [SKYT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SkyWater Technology Inc. [SKYT] shares currently have an operating margin of -36.73 and a Gross Margin at -4.59. SkyWater Technology Inc.’s Net Margin is presently recorded at -31.13.

Return on Equity for this stock declined to -165.91, with Return on Assets sitting at -19.25.

SkyWater Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for SkyWater Technology Inc. [SKYT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SKYT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SkyWater Technology Inc. go to 20.00%.

SkyWater Technology Inc. [SKYT]: Insider Ownership positions

There are presently around $43 million, or 11.30% of SKYT stock, in the hands of institutional investors. The top three institutional holders of SKYT stocks are: EMERALD ADVISERS, LLC with ownership of 979,427, which is approximately -1.958% of the company’s market cap and around 63.10% of the total institutional ownership; EMERALD MUTUAL FUND ADVISERS TRUST, holding 835,904 shares of the stock with an approximate value of $8.73 million in SKYT stocks shares; and BLACKROCK INC., currently with $5.92 million in SKYT stock with ownership of nearly 5.524% of the company’s market capitalization.

Positions in SkyWater Technology Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 29 institutional holders increased their position in SkyWater Technology Inc. [NASDAQ:SKYT] by around 295,648 shares. Additionally, 27 investors decreased positions by around 2,007,803 shares, while 11 investors held positions by with 1,811,835 shares. The mentioned changes placed institutional holdings at 4,115,286 shares, according to the latest SEC report filing. SKYT stock had 13 new institutional investments in for a total of 191,199 shares, while 12 institutional investors sold positions of 1,496,328 shares during the same period.


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