nVerses Capital LLC Invests $60,000 in SkyWater Technology, Inc. (NASDAQ:SKYT)

nVerses Capital LLC purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) in the 3rd quarter, HoldingsChannel reports. The firm purchased 6,600 shares of the company’s stock, valued at approximately $60,000.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of SkyWater Technology by 183.6% in the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after buying an additional 77,571 shares in the last quarter. Lountzis Asset Management LLC purchased a new stake in SkyWater Technology in the 2nd quarter worth $2,212,000. Baillie Gifford & Co. raised its position in SkyWater Technology by 4.4% during the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock worth $7,707,000 after acquiring an additional 42,649 shares during the period. Cetera Advisors LLC lifted its holdings in SkyWater Technology by 9.3% during the first quarter. Cetera Advisors LLC now owns 21,391 shares of the company’s stock valued at $218,000 after purchasing an additional 1,816 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of SkyWater Technology in the first quarter valued at about $119,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Down 1.0 %

NASDAQ SKYT opened at $9.72 on Tuesday. SkyWater Technology, Inc. has a one year low of $4.73 and a one year high of $12.97. 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 business has a fifty day moving average price of $9.18 and a 200 day moving average price of $8.53. The company has a market cap of $461.51 million, a P/E ratio of -18.00 and a beta of 3.95.

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

Insiders Place Their Bets

In related news, Director Loren A. Unterseher sold 2,673 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total value of $26,730.00. Following the completion of the sale, the director now owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 42.55% of the company’s stock.

Analysts Set New Price Targets

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

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.