Short Interest in SkyWater Technology, Inc. (NASDAQ:SKYT) Decreases By 15.2%

SkyWater Technology, Inc. (NASDAQ:SKYT) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 2,060,000 shares, a drop of 15.2% from the December 15th total of 2,430,000 shares. Based on an average daily trading volume, of 818,200 shares, the days-to-cover ratio is presently 2.5 days. Currently, 9.3% of the shares of the stock are short sold.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total value of $71,944.47. Following the transaction, the director now owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 42.55% of the company’s stock.

Institutional Trading of SkyWater Technology

A number of hedge funds have recently made changes to their positions in SKYT. Quarry LP bought a new position in SkyWater Technology in the 3rd quarter valued at approximately $35,000. Allworth Financial LP bought a new stake in SkyWater Technology during the 3rd quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in SkyWater Technology in the 3rd quarter valued at approximately $60,000. The Manufacturers Life Insurance Company bought a new position in shares of SkyWater Technology during the second quarter valued at $88,000. Finally, Algert Global LLC acquired a new position in shares of SkyWater Technology during the second quarter worth $107,000. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT traded up $0.05 during mid-day trading on Friday, hitting $11.55. 552,491 shares of the stock traded hands, compared to its average volume of 1,646,466. SkyWater Technology has a twelve month low of $5.63 and a twelve month high of $19.00. The firm has a 50 day simple moving average of $10.91 and a two-hundred day simple moving average of $9.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The company has a market cap of $550.43 million, a PE ratio of -33.00 and a beta of 3.43.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler raised their price target on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

About SkyWater Technology

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.