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

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,670,000 shares, a growth of 24.2% from the January 15th total of 2,150,000 shares. Based on an average daily volume of 910,500 shares, the short-interest ratio is currently 2.9 days. Approximately 11.8% of the shares of the stock are sold short.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the transaction, the director now directly owns 12,806,264 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 42.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new position in shares of SkyWater Technology during the 2nd quarter worth about $88,000. nVerses Capital LLC acquired a new position in SkyWater Technology during the third quarter valued at approximately $60,000. Allworth Financial LP acquired a new position in SkyWater Technology during the third quarter valued at approximately $41,000. Emerald Advisers LLC increased its stake in SkyWater Technology by 1.7% in the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company's stock valued at $10,109,000 after purchasing an additional 18,423 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in SkyWater Technology in the third quarter worth $126,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SKYT. Piper Sandler boosted their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Needham & Company LLC reissued a "buy" rating and issued a $12.00 target price on shares of SkyWater Technology in a research note on Monday, November 11th.

SkyWater Technology Trading Up 1.8 %

SKYT stock traded up $0.18 during midday trading on Tuesday, reaching $10.20. The company's stock had a trading volume of 160,420 shares, compared to its average volume of 673,892. The business's 50-day simple moving average is $11.70 and its 200-day simple moving average is $9.93. 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. The stock has a market cap of $485.94 million, a PE ratio of -29.11 and a beta of 3.36.

SkyWater Technology Company Profile

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.