6,600 Shares in SkyWater Technology, Inc. (NASDAQ:SKYT) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,600 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SKYT. The Manufacturers Life Insurance Company purchased a new stake in shares of SkyWater Technology during the 2nd quarter worth $88,000. Allspring Global Investments Holdings LLC grew its position in shares of SkyWater Technology by 98,866.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after buying an additional 11,864 shares during the last quarter. Algert Global LLC acquired a new stake in SkyWater Technology in the second quarter valued at approximately $107,000. Janney Montgomery Scott LLC purchased a new position in SkyWater Technology in the first quarter worth $119,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of SkyWater Technology during the 2nd quarter valued at $161,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Stock Down 1.0 %

SkyWater Technology stock opened at $9.72 on Tuesday. The business’s 50-day simple moving average is $9.18 and its two-hundred day simple moving average is $8.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.90. The company has a market cap of $461.51 million, a PE ratio of -18.00 and a beta of 3.95. SkyWater Technology, Inc. has a fifty-two week low of $4.73 and a fifty-two week high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. SkyWater Technology had a negative return on equity of 21.68% and a negative net margin of 7.88%. The firm had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. Equities analysts anticipate that SkyWater Technology, Inc. will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on SkyWater Technology from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, August 8th.

Insider Transactions at SkyWater Technology

In related news, Director Loren A. Unterseher sold 2,673 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the transaction, the director now owns 13,019,620 shares of the company’s stock, valued at $130,196,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 42.55% of the company’s stock.

SkyWater Technology 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.