SkyWater Technology Inc. (NASDAQ:SKYT) finished Friday with a subtraction of -$0.41 to close at $7.03, a downside of -5.51 percent. An average of 912,540 shares of common stock have been traded in the last five days. There was a fall of -$3.14 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 499,805 shares traded, while the 50-day average volume stands at 361,322.
SKYT stock has decreased by -23.25% in the last month. The company shares reached their 1-month lowest point of $6.91 on 08/11/23. With the stock rallying to its 52-week high on 02/16/23, shares of the company touched a low of $6.31 and a high of $20.95 in 52 weeks. It has reached a new high 18 times so far this year and lost -1.13% or -$0.08 in price. In spite of this, the price is down -66.44% from the 52-week high.
Insider Transactions
SKYT stock investors should be aware that SkyWater Technology Inc. (SKYT) stock had its last reported insider trading activity 11 days ago on Aug 01. In this transaction, the insider spent $622,581. 10% Owner, DDK Developments, L.L.C., disposed of 57,500 shares at a price of $10.83 on Aug 01. The insider now owns more than $622,581 worth of shares. Prior to that, 10% Owner DDK Developments, L.L.C. went on to Sale 7,500 shares at $9.11 each on Jul 17. An amount of $68,296 was transacted.
Valuation Metrics
SkyWater Technology Inc. (SKYT) stock’s beta is 4.21. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.32, the price-to-book (PB) ratio at 5.45.
Financial Health
The quick ratio of SkyWater Technology Inc. for the three months ended June 29 was 0.80, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.80 and a total debt to equity ratio of 1.77 for the quarter ending June 29. SkyWater Technology Inc.’s EBITDA margin for the year ending June 29 is -0.74%, while its operating margin for the same period stands at -7.40%. Its gross profit as reported stood at $25.97 million compared to revenue of $212.94 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SkyWater Technology Inc.’s return on assets was -9.50%.
Earnings Surprise
For the three-month period that ended June 29, SkyWater Technology Inc. had $35.19 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$4.27 million in the quarter, while revenues were shrunk -288.99%. The analyst consensus anticipated SkyWater Technology Inc.’s latest quarter earnings to come in at -$0.11 per share, but it turned out to be -$0.14, a -27.30% surprise. For the quarter, EBITDA amounted to $6.61 million. Shareholders own equity worth $44.47 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at SkyWater Technology Inc. (SKYT) price momentum. RSI 9-day as of the close on 11 August was 26.63%, suggesting the stock is oversold, with historical volatility in this time frame at 91.85%.
As of today, SKYT’s price is $7.98 -30.88% or -$3.14 from its 5-day moving average. SKYT is currently trading -23.00% lower than its 20-day SMA and -35.50% lower than its 100-day SMA. However, the stock’s current price level is -31.41% below the SMA50 and -1.54% below the SMA200.
The stochastic %K and %D were 2.81% and 9.01%, respectively, and the average true range (ATR) was 0.73. With the 14-day stochastic at 2.86% and the average true range at 0.67, the RSI (14) stands at 32.50%. The stock has reached -1.56 on the 9-day MACD Oscillator while the 14-day reading was at -1.64.
Analyst Ratings
Craig Hallum launched coverage on SkyWater Technology Inc. (NASDAQ: SKYT) in its analyst report released on April 26, 2022. The firm assigned the stock a Buy rating.
What is SKYT’s price target for the next 12 months?
Analysts predict a range of price targets between $10.00 and $20.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for SkyWater Technology Inc. (SKYT) stock is $16.80.
