While SkyWater Technology Inc has overperformed by 7.57%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKYT rose by 66.65%, with highs and lows ranging from $19.00 to $5.63, whereas the simple moving average jumped by 59.72% in the last 200 days.
On February 27, 2024, TD Cowen Reiterated SkyWater Technology Inc (NASDAQ: SKYT) to Outperform. A report published by Needham on February 27, 2024, Reiterated its previous ‘Buy’ rating for SKYT. Craig Hallum also rated SKYT shares as ‘Buy’, setting a target price of $10 on the company’s shares in an initiating report dated April 26, 2022. Jefferies August 05, 2021d the rating to Hold on August 05, 2021, and set its price target from $27 to $23. Needham initiated its ‘Buy’ rating for SKYT, as published in its report on July 16, 2021. Piper Sandler’s report from May 17, 2021 suggests a price prediction of $25 for SKYT shares, giving the stock a ‘Overweight’ rating. Jefferies also rated the stock as ‘Buy’.
Analysis of SkyWater Technology Inc (SKYT)
Further, the quarter-over-quarter increase in sales is 30.99%, showing a positive trend in the upcoming months.
To gain a thorough understanding of SkyWater Technology Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -27.62% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.78, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SKYT is recording an average volume of 757.24K. On a monthly basis, the volatility of the stock is set at 14.59%, whereas on a weekly basis, it is put at 9.48%, with a loss of -9.78% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.30, showing decline from the present price of $14.49, which can serve as yet another indication of whether SKYT is worth investing in or should be passed over.
How Do You Analyze SkyWater Technology Inc Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 53.33%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 26.73% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SKYT shares are owned by institutional investors to the tune of 26.73% at present.
