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

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

Insider Transactions at SkyWater Technology

In related news, Director Loren A. Unterseher sold 7,761 shares of the business’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 transaction, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 42.55% of the company’s stock.

Institutional Trading of SkyWater Technology

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in SkyWater Technology in the 3rd quarter worth about $35,000. Victory Capital Management Inc. increased its holdings in shares of SkyWater Technology by 4.2% during the second quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock worth $728,000 after purchasing an additional 3,850 shares during the period. Allworth Financial LP acquired a new stake in shares of SkyWater Technology in the third quarter valued at approximately $41,000. XTX Topco Ltd boosted its stake in shares of SkyWater Technology by 19.5% in the second quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock valued at $236,000 after buying an additional 5,038 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of SkyWater Technology in the third quarter valued at approximately $60,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SKYT has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a report on Monday, November 11th. Piper Sandler upped their price objective on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT traded up $0.05 during mid-day trading on Friday, reaching $11.55. 552,491 shares of the company were exchanged, compared to its average volume of 1,646,466. The company’s 50-day simple moving average is $10.91 and its 200-day simple moving average is $9.50. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $550.43 million, a P/E ratio of -33.00 and a beta of 3.43. SkyWater Technology has a twelve month low of $5.63 and a twelve month high of $19.00.

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.