In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $6.21, marking a +1.8% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.91%, while the tech-heavy Nasdaq added 0.1%.

The the stock of company has fallen by 25.97% in the past month, lagging the Computer and Technology sector's loss of 16.18% and the S&P 500's loss of 12.13%.

Analysts and investors alike will be keeping a close eye on the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.13, reflecting a 62.5% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $61.05 million, indicating a 23.34% decrease compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.07 per share and a revenue of $309.2 million, demonstrating changes of -216.67% and -9.66%, respectively, from the preceding 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, SkyWater Technology, Inc. is carrying a Zacks Rank of #1 (Strong Buy).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 250+ industries.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during 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).

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