In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $31.11, marking a +1.01% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.89%. On the other hand, the Dow registered a gain of 0.74%, and the technology-centric Nasdaq increased by 1.29%.
Shares of the company have depreciated by 17.49% over the course of the past month, underperforming the Computer and Technology sector's loss of 6.6%, and the S&P 500's loss of 0.63%.
The investment community will be paying close attention to the earnings performance of SkyWater Technology, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.07, reflecting a 36.36% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $148 million, indicating a 150.59% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.26 per share and revenue of $605 million, indicating changes of -2700% and +36.83%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for SkyWater Technology, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained unchanged. SkyWater Technology, Inc. presently features a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SkyWater Technology, Inc. (SKYT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).