SkyWater Technology, Inc. (SKYT) Stock Slides as Market Rises: Facts to Know Before You Trade

SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $28.84, moving -1.23% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.54% for the day. Meanwhile, the Dow gained 0.66%, and the Nasdaq, a tech-heavy index, added 0.77%.

The stock of company has risen by 3.84% in the past month, leading the Computer and Technology sector's loss of 5% and the S&P 500's loss of 4.71%.

Investors will be eagerly watching for the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.08, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $147 million, indicating a 139.8% upward movement from the same quarter last year.

SKYT's full-year Zacks Consensus Estimates are calling for earnings of -$0.26 per share and revenue of $605 million. These results would represent year-over-year changes of -2700% and +36.83%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for SkyWater Technology, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5% lower. Currently, SkyWater Technology, Inc. is carrying a Zacks Rank of #5 (Strong Sell).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 38% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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SkyWater Technology, Inc. (SKYT): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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