SkyWater Technology Inc (NASDAQ:SKYT) price on Friday, February 28, rose 2.19% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $9.33.
A look at the stock’s price movement, the close in the last trading session was $9.13. Turning to its 52-week performance, $19.00 and $5.63 were the 52-week high and 52-week low respectively. Overall, SKYT moved -3.81% over the past month.
SkyWater Technology Inc’s market cap currently stands at around $444.63 million, with investors looking forward to this quarter’s earnings report slated for in April.
Analysts have a consensus estimate of 61.04M for the company’s revenue for the quarter, with a low and high estimate of 61M and 61.1M respectively. The average forecast suggests down to a -23.35% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 309.04M, representing a -9.71% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SKYT is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend SKYT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SKYT’s current price about -4.60% and -18.63% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.97, while 7-day volatility ratio is 9.31% and 6.61% in the 30-day chart. Further, SkyWater Technology Inc (SKYT) has a beta value of 3.37, and an average true range (ATR) of 0.86. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $9 and high of $20. Looking at the price targets, the low is 3.54% off current price level while to achieve the yearly target high, price needs to move -114.36%. Nonetheless, investors will most likely welcome a -60.77% jump to $15 which is the analysts’ median price.
If we refocus on SkyWater Technology Inc (NASDAQ:SKYT), historical trading data shows that trading volumes averaged 972.26K over the past 3 months. The company’s latest data on shares outstanding shows there are 47.70 million shares.
The 52.68% of SkyWater Technology Inc’s shares are in the hands of company insiders while institutional holders own 28.22% of the company’s shares. Current price change has pushed the stock -32.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SKYT stock continues to rise going into the next quarter.
