Skillz Inc. [SKLZ] fell -29.45% so far this year. What now?

Skillz Inc. [NYSE: SKLZ] loss -6.62% or -1.0 points to close at $14.11 with a heavy trading volume of 20098151 shares. The company report on March 25, 2021 that Skillz Outlook Outperforms Analysts’ Expectations for First Quarter 2021 and Sets Date for Earnings Call.

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Strong Player Growth Drives Record Revenue.

Skillz Inc. (NYSE: SKLZ), the leading mobile games platform bringing fair competition to players worldwide, released its outlook for the first quarter ending March 31, 2021. The Company also announced that it will release its fiscal first quarter financial results on May 4, 2021 after the end of trading on the New York Stock Exchange.

It opened the trading session at $14.85, the shares rose to $14.98 and dropped to $13.50, the range by which the price of stock traded the whole day. The daily chart for SKLZ points out that the company has recorded 2.25% gains over the past six months. However, it is still -43.83% lower than its most recent low trading price.

If we look at the average trading volume of 11.62M shares, SKLZ reached to a volume of 20098151 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Skillz Inc. [SKLZ]:

UBS have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 25, 2021. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on January 19, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $28, while Wells Fargo analysts kept a Equal Weight rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 1.90, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 24.26. The Price to Book ratio for the last quarter was 17.64, with the Price to Cash per share for the same quarter was set at 0.66.

Trading performance analysis for SKLZ stock

Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.09. With this latest performance, SKLZ shares dropped by -47.25% in over the last four-week period, additionally plugging by 2.25% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKLZ stock in for the last two-week period is set at 24.82, with the RSI for the last a single of trading hit 17.84, and the three-weeks RSI is set at 30.75 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 26.87, while it was recorded at 15.28 for the last single week of trading, and 18.14 for the last 200 days.

Skillz Inc. [SKLZ]: A deeper dive into fundamental analysis

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.80 and a Current Ratio set at 5.80.

An analysis of insider ownership at Skillz Inc. [SKLZ]

There are presently around $2,173 million, or 42.10% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: ATLAS VENTURE ASSOCIATES IX, LLC with ownership of 23,284,403, which is approximately New of the company’s market cap and around 4.70% of the total institutional ownership; ATLAS VENTURE ASSOCIATES XI, LLC, holding 23,284,403 shares of the stock with an approximate value of $328.54 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $302.42 million in SKLZ stock with ownership of nearly New of the company’s market capitalization.

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90 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 138,662,123 shares. Additionally, 76 investors decreased positions by around 24,189,626 shares, while 4 investors held positions by with 8,831,004 shares. The mentioned changes placed institutional holdings at 154,020,745 shares, according to the latest SEC report filing. SKLZ stock had 67 new institutional investments in for a total of 108,176,670 shares, while 53 institutional investors sold positions of 18,264,972 shares during the same period.

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