SkyWater Technology (NASDAQ:SKYT) Stock Price Down 7.1% - Time to Sell?

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shares fell 7.1% during trading on Monday . The stock traded as low as $12.77 and last traded at $12.77. 346,425 shares changed hands during trading, a decline of 27% from the average session volume of 475,419 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

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

SkyWater Technology Stock Performance

The firm has a fifty day moving average of $9.55 and a 200-day moving average of $8.72. 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 $623.34 million, a price-to-earnings ratio of -37.37 and a beta of 3.72.

Insider Activity at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the transaction, the director now owns 12,806,264 shares of the company's stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 42.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of SkyWater Technology in the 3rd quarter valued at $60,000. AQR Capital Management LLC lifted its stake in shares of SkyWater Technology by 183.6% during the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company's stock worth $917,000 after purchasing an additional 77,571 shares in the last quarter. Lountzis Asset Management LLC purchased a new stake in shares of SkyWater Technology in the second quarter worth about $2,212,000. The Manufacturers Life Insurance Company acquired a new stake in shares of SkyWater Technology in the second quarter valued at about $88,000. Finally, Point72 Asset Management L.P. acquired a new position in SkyWater Technology during the 3rd quarter worth approximately $222,000. Institutional investors and hedge funds own 70.00% of the company's stock.

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.