Skillz (NYSE:SKLZ) Stock Price Up 3%

Shares of Skillz Inc. (NYSE:SKLZ) traded up 3% during mid-day trading on Friday . The company traded as high as $6.25 and last traded at $6.20. 24,277 shares were traded during trading, a decline of 100% from the average session volume of 12,486,102 shares. The stock had previously closed at $6.02.

Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Skillz in a report on Wednesday, November 3rd. They issued a “buy” rating and a $23.00 price target on the stock. BTIG Research initiated coverage on shares of Skillz in a research report on Wednesday, October 27th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Skillz from a “hold” rating to a “sell” rating in a research report on Tuesday, November 9th. Finally, lowered their price target on Skillz from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Skillz presently has an average rating of “Hold” and an average price target of $21.95.

The firm has a market capitalization of $2.41 billion, a P/E ratio of -17.71 and a beta of 0.82. The stock has a fifty day simple moving average of $8.89 and a two-hundred day simple moving average of $11.25.

Skillz (NYSE:SKLZ) last issued its earnings results on Wednesday, November 3rd. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The business had revenue of $102.07 million during the quarter, compared to the consensus estimate of $102.72 million. Skillz had a negative return on equity of 36.94% and a negative net margin of 36.84%. As a group, analysts forecast that Skillz Inc. will post -0.49 earnings per share for the current fiscal year.

In other news, CRO Casey Chafkin purchased 86,500 shares of the company’s stock in a transaction dated Monday, November 8th. The shares were purchased at an average price of $11.63 per share, with a total value of $1,005,995.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Paradise bought 432,105 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was acquired at an average price of $11.50 per share, for a total transaction of $4,969,207.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 618,560 shares of company stock valued at $7,224,009. Corporate insiders own 27.33% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its holdings in Skillz by 3,100.0% in the 2nd quarter. Clearstead Advisors LLC now owns 1,600 shares of the company’s stock worth $35,000 after buying an additional 1,550 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Skillz by 12.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,964 shares of the company’s stock valued at $138,000 after purchasing an additional 1,595 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Skillz by 9.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 25,300 shares of the company’s stock valued at $549,000 after purchasing an additional 2,117 shares during the period. Dynamic Advisor Solutions LLC increased its position in Skillz by 18.8% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 15,000 shares of the company’s stock valued at $147,000 after buying an additional 2,375 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its position in Skillz by 4.7% during the 2nd quarter. Vident Investment Advisory LLC now owns 70,885 shares of the company’s stock valued at $1,539,000 after buying an additional 3,207 shares in the last quarter. Institutional investors and hedge funds own 43.29% of the company’s stock.

About Skillz (NYSE:SKLZ)

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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