SkyWater Technology, Inc. (NASDAQ:SKYT) Short Interest Update

SkyWater Technology, Inc. (NASDAQ:SKYT) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 2,060,000 shares, a decline of 15.2% from the December 15th total of 2,430,000 shares. Based on an average daily volume of 818,200 shares, the short-interest ratio is presently 2.5 days. Approximately 9.3% of the company’s stock are short sold.

SkyWater Technology Stock Down 2.6 %

Shares of SKYT traded down $0.31 during midday trading on Thursday, hitting $11.50. The company had a trading volume of 505,116 shares, compared to its average volume of 962,412. The stock has a market cap of $548.09 million, a price-to-earnings ratio of -32.86 and a beta of 3.43. The company’s 50 day moving average price is $10.84 and its 200 day moving average price is $9.45. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. SkyWater Technology has a 52 week low of $5.63 and a 52 week high of $19.00.

Analyst Upgrades and Downgrades

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

Insider Transactions at SkyWater Technology

In related news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology 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 of the company’s stock, valued at $118,714,067.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 42.55% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently bought and sold shares of SKYT. Quarry LP bought a new position in SkyWater Technology during the 3rd quarter worth approximately $35,000. Allworth Financial LP acquired a new stake in shares of SkyWater Technology during the 3rd quarter valued at approximately $41,000. nVerses Capital LLC bought a new position in SkyWater Technology during the third quarter worth $60,000. The Manufacturers Life Insurance Company bought a new position in SkyWater Technology during the second quarter worth $88,000. Finally, Algert Global LLC acquired a new position in SkyWater Technology in the second quarter worth $107,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

About SkyWater Technology

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.