Skillz (NYSE:SKLZ) Trading Up 7%

Skillz Inc. (NYSE:SKLZ – Get Rating) shares were up 7% on Thursday . The stock traded as high as $1.93 and last traded at $1.91. Approximately 245,900 shares changed hands during trading, a decline of 98% from the average daily volume of 12,611,754 shares. The stock had previously closed at $1.78.

Several equities analysts recently weighed in on SKLZ shares. Royal Bank of Canada reduced their price target on shares of Skillz from $12.00 to $2.50 and set a “sector perform” rating for the company in a research report on Thursday, February 24th. Citigroup cut their target price on shares of Skillz from $9.00 to $5.00 in a research report on Tuesday, March 1st. Canaccord Genuity Group cut their target price on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. Stifel Nicolaus cut their target price on shares of Skillz from $16.00 to $3.50 in a research report on Thursday, February 24th. Finally, Canaccord Genuity Group cut their target price on shares of Skillz from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.44.

The company has a debt-to-equity ratio of 0.51, a current ratio of 7.12 and a quick ratio of 7.12. The business’s fifty day moving average price is $2.50 and its 200-day moving average price is $5.40.

Skillz (NYSE:SKLZ – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.19). Skillz had a negative return on equity of 42.74% and a negative net margin of 70.05%. The firm had revenue of $93.44 million during the quarter, compared to analysts’ expectations of $90.87 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Skillz Inc. will post -0.79 EPS for the current year.

In related news, Director Harry Sloan bought 100,000 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $2.27 per share, with a total value of $227,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerome Leon Bruckheimer bought 101,215 shares of the stock in a transaction that occurred on Monday, March 7th. The stock was bought at an average cost of $2.46 per share, for a total transaction of $248,988.90. The disclosure for this purchase can be found here. Company insiders own 27.33% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. bought a new position in Skillz during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. grew its position in Skillz by 350.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,000 shares of the company’s stock valued at $27,000 after acquiring an additional 7,000 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new position in Skillz during the first quarter valued at approximately $31,000. Ieq Capital LLC bought a new position in Skillz during the first quarter valued at approximately $32,000. Finally, Signaturefd LLC grew its position in Skillz by 106.7% during the first quarter. Signaturefd LLC now owns 10,850 shares of the company’s stock valued at $33,000 after acquiring an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 44.94% of the company’s stock.

Skillz Company Profile (NYSE:SKLZ)

Skillz Inc operates a mobile games platform that connects players in fair, fun, and meaningful competition. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users worldwide.

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