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SKYT’s shares have gained 7.7% in price over the past three months to close Friday’s trading session at $27.37.
However, the stock has lost 19.1% since hitting its all-time price high of $34.43 on June 18. One of SKYT’s advanced technology services (ATS) programs that generated significant revenue in 2020 is being restructured and is not expected to resume operations until 2022. Furthermore, the company’s revenue and EPS estimates were cut sharply as analysts factored in their latest outlook. In fact, Jeffries has downgraded the stock’s rating from Buy to Hold and lowered the price target to $23. So, SKYT’s prospects look bleak in the near term.
