SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $33.38, moving -2.08% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.16%.
The stock of company has fallen by 7.49% in the past month, lagging the Computer and Technology sector's gain of 0.38% and the S&P 500's gain of 2.14%.
The upcoming earnings release of SkyWater Technology, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.07, reflecting a 36.36% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $148 million, showing a 150.59% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.26 per share and a revenue of $605 million, representing changes of -2700% and +36.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SkyWater Technology, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, SkyWater Technology, Inc. is carrying a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 41, finds itself in the top 17% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SKYT in the coming trading sessions, be sure to utilize Zacks.com.
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SkyWater Technology, Inc. (SKYT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).