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SkyWater Technology, Inc. (NASDAQ:SKYT) Short Selling Rate Up 15.8% in July

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) was the target of a big rise in short-term interest rates in July. As of July 31, there were a total of 2.13 million shares shorted, up 15.8% from the July 15 total of 1.84 million shares. Based on an average daily trading volume of 277,300 shares, the days coverage ratio is now 7.7 days. About 24.6% of the company’s shares have been sold short.

Institutional trading of Skywater technology

A number of hedge funds have recently changed their stakes in businesses. Emerald Advisers LLC increased his stake in SkyWater Technology by 15.2% in the first quarter. Emerald Advisers LLC now owns 998,983 shares worth $10,819,000 after purchasing an additional 131,472 of his shares in the previous quarter. Vanguard Group Inc. increased its stake in SkyWater Technology by 8.4% in the first quarter. Vanguard Group Inc. now owns 458,277 shares worth $4,964,000 after purchasing an additional 35,456 shares last quarter. Mairs & Power Inc. increased his SkyWater Technology stake by 47.4% in the first quarter. Mairs & Power Inc. now owns 204,511 shares worth $2,215,000 after purchasing an additional 65,758 shares in the previous quarter. State Street Corp increased its stake in SkyWater Technology by 4.4% in the first quarter. State Street Corp now owns 164,079 shares of its stock worth $1,777,000 after purchasing an additional 6,887 shares last quarter. Finally, Northern Trust Corp increased its stake in SkyWater Technology by 18.2% in the second quarter. Northern Trust Corporation now owns 86,415 shares worth $520,000 after purchasing an additional 13,322 shares in the previous quarter. Institutional investors own 17.24% of the company’s shares.

Wall Street Analyst Predicts Growth

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Many brokerage firms publish reports on SKYT. Piper Sandler lowered his price target on SkyWater Technology stock from $15.00 to $10.00 in a research report on Wednesday, May 4. Craig Hallum began coverage of SkyWater Technology’s stock in a research report on Tuesday, April 26th. They set a ‘buy’ rating and a $10.00 price target. Finally, Needham & Company LLC increased its price target for SkyWater Technology stock to $15.00 in a research report on Friday, July 22nd.

Skywater Technology Trading Down 1.3%

SKYT shares fell $0.20 in Friday’s intraday trading to reach $14.86. His 276,954 shares of the company’s stock were hand traded, compared to an average trading volume of 490,956. SkyWater Technology has a 12-month low of $4.43 and a 12-month high of $36.80. The company has a debt to equity ratio of 1.43, a quick ratio of 1.11 and a current ratio of 1.35. The company has a 50-day moving average price of $9.88 and a 200-day moving average price of $9.02.

Skywater Technology Company Profile

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SkyWater Technology, Inc, along with its subsidiaries, provides semiconductor development and manufacturing services. The company provides engineering and process development support services for co-creating technology with customers. Semiconductor manufacturing services for a variety of silicon-based analog and mixed-signal, power discrete, micro-electro-mechanical systems, and radiation-tolerant integrated circuits.

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