SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating ) was the target of a significant increase in short interest in July. Short was 2,130,000 shares as of July 31st, up 15.8% from the 1,840,000 shares as of July 15th. Based on an average daily volume of 277,300 shares, the days-to-cover ratio is currently 7.7 days. Approximately 24.6% of the company’s shares are sold short.
Institutional Trading of SkyWater Technology
Several hedge funds have recently modified their holdings of the business. Emerald Advisers LLC raised its stake in shares of SkyWater Technology by 15.2% during the 1st quarter. Emerald Advisers LLC now owns 998,983 shares of the company’s stock valued at $10,819,000 after purchasing an additional 131,472 shares in the last quarter. Vanguard Group Inc. grew its stake in SkyWater Technology by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 458,277 shares of the company’s stock valued at $4,964,000 after purchasing an additional 35,456 shares in the last quarter. Mairs & Power Inc. grew its stake in SkyWater Technology by 47.4% in the first quarter. Mairs & Power Inc. now owns 204,511 shares of the company’s stock valued at $2,215,000 after acquiring an additional 65,758 shares in the last quarter. State Street Corp raised its stake in SkyWater Technology by 4.4% in the first quarter. State Street Corp now owns 164,079 shares of the company’s stock valued at $1,777,000 after purchasing an additional 6,887 shares in the last quarter. Finally, Northern Trust Corp grew its stake in SkyWater Technology by 18.2% in the 2nd quarter. Northern Trust Corp now owns 86,415 shares of the company’s stock valued at $520,000 after buying an additional 13,322 shares in the last quarter. Institutional investors own 17.24% of the company’s shares.
Wall Street analysts predict growth
A number of brokerages have issued reports on SKYT. Piper Sandler cut their price objective on shares of SkyWater Technology from $15.00 to $10.00 in a research report on Wednesday, May 4th. Craig Hallum began coverage on shares of SkyWater Technology in a research report on Tuesday, April 26th. They set a “buy” rating and a $10.00 target price. Finally, Needham & Company LLC boosted their target price on shares of SkyWater Technology to $15.00 in a research report on Friday, July 22nd.
SkyWater Technology trade fell 1.3%
SKYT stock traded down $0.20 during mid-day trading on Friday, hitting $14.86. 276,954 shares of the company traded hands, compared to its average volume of 490,956. SkyWater Technology has a 12-month low of $4.43. US and a 12-month high of $36.80. The company has a debt-to-equity ratio of 1.43, a gearing ratio of 1.11, and a current ratio of 1.35. The company’s 50-day moving average price is $9.88, and its 200-day moving average price is $9.02.
SkyWater Technology company profile
SkyWater Technology, Inc., together with its subsidiaries, provides semiconductor development and manufacturing services. The company offers development and process development services to co-create technologies with clients; and semiconductor manufacturing services for a variety of silicon analog and mixed signal, power discrete, microelectromechanical systems, and radiation-hardened integrated circuits.
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