In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $32.52, marking a -2.61% move from the previous day. This change lagged the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.29%.
The stock of company has fallen by 6.73% in the past month, lagging the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
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. In the meantime, our current consensus estimate forecasts the revenue to be $148 million, indicating a 150.59% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.26 per share and a revenue of $605 million, signifying shifts of -2700% and +36.83%, respectively, from the last year.
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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. SkyWater Technology, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 42, this industry ranks in the top 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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SkyWater Technology, Inc. (SKYT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).