SkyWater Technology, Inc. (SKYT) closed at $18.37 in the latest trading session, marking a -8.15% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. Meanwhile, the Dow experienced a rise of 0.51%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Coming into today, shares of the company had gained 85.01% in the past month. In that same time, the Computer and Technology sector gained 10.49%, while the S&P 500 gained 4.83%.
The upcoming earnings release of SkyWater Technology, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.17, indicating a 312.5% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $135.5 million, up 44.43% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.44 per share and a revenue of $417.8 million, representing changes of -833.33% and +22.07%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWater Technology, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SkyWater Technology, Inc. presently features a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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