Skillz Inc. (NYSE:SKLZ) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 45,330,000 shares, a growth of 29.3% from the March 31st total of 35,060,000 shares. Currently, 19.6% of the shares of the company are sold short. Based on an average daily volume of 16,590,000 shares, the days-to-cover ratio is presently 2.7 days.
Several brokerages recently commented on SKLZ. Wells Fargo & Company began coverage on Skillz in a research note on Friday, January 15th. They issued an “equal weight” rating and a $28.00 price target on the stock. Zacks Investment Research lowered Skillz from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th. Smith Barney Citigroup assumed coverage on Skillz in a research report on Monday, January 11th. They issued a “buy” rating and a $27.00 price objective for the company. Canaccord Genuity lifted their price objective on Skillz from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. Finally, UBS Group assumed coverage on Skillz in a research report on Wednesday, March 3rd. They issued a “neutral” rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Skillz presently has an average rating of “Hold” and a consensus price target of $27.71.
Shares of SKLZ stock traded up $0.44 on Tuesday, reaching $16.96. 29,027,969 shares of the stock were exchanged, compared to its average volume of 15,782,615. Skillz has a one year low of $9.84 and a one year high of $46.30. The firm’s 50 day moving average price is $19.52.
Skillz (NYSE:SKLZ) last released its earnings results on Wednesday, March 10th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The firm had revenue of $67.72 million during the quarter, compared to the consensus estimate of $62.82 million. On average, analysts predict that Skillz will post -0.33 EPS for the current year.
In related news, Director Kent Wakeford sold 42,465 shares of the business’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $23.34, for a total value of $991,133.10. Following the sale, the director now owns 1,640,190 shares of the company’s stock, valued at approximately $38,282,034.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Charlotte Edelman sold 30,340 shares of the business’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $23.34, for a total value of $708,135.60. Following the completion of the sale, the vice president now directly owns 130,413 shares in the company, valued at approximately $3,043,839.42. The disclosure for this sale can be found here. Insiders have sold a total of 10,424,095 shares of company stock worth $243,298,377 in the last three months.
Several hedge funds have recently added to or reduced their stakes in the company. Atlas Venture Associates IX LLC acquired a new position in Skillz in the fourth quarter valued at about $465,688,000. T Ventures Management Co Ltd. acquired a new position in Skillz in the fourth quarter valued at about $308,992,000. Washington Harbour Partners LP acquired a new position in Skillz in the fourth quarter valued at about $57,763,000. Lord Abbett & CO. LLC acquired a new position in Skillz in the fourth quarter valued at about $33,207,000. Finally, Diameter Capital Partners LP acquired a new position in Skillz in the fourth quarter valued at about $26,000,000. Institutional investors own 45.77% of the company’s stock.
Skillz Company Profile
Skillz Inc operates a mobile games platform that connects players worldwide. Its platform hosts casual esports tournaments. The company was founded in 2012 and is headquartered in San Francisco, California.
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