Skillz Inc. [SKLZ] moved up 1.09: Why It’s Important

Skillz Inc. [NYSE: SKLZ] stock went on an upward path that rose over 1.09% on Friday, amounting to a one-week price increase of more than 6.85%. The company report on June 28, 2021 that Class Action Alert: Kessler Topaz Meltzer & Check, LLP Reminds SKLZ Investors for Securities Fraud Class Action Lawsuit.

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The law firm of Kessler Topaz Meltzer & Check, LLP reminds Skillz Inc. (NYSE: SKLZ) (“Skillz”) f/k/a Flying Eagle Acquisition Corp. (NYSE: FEAC) (“FEAC”) investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against on behalf of those who purchased or acquired Skillz securities between December 16, 2020 and April 19, 2021, inclusive (the “Class Period”).

Lead Plaintiff Deadline: July 7, 2021.

Over the last 12 months, SKLZ stock rose by 90.14%. The one-year Skillz Inc. stock forecast points to a potential upside of 15.71. The average equity rating for SKLZ stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.02 billion, with 359.83 million shares outstanding and 275.03 million shares in the current float. Compared to the average trading volume of 21.24M shares, SKLZ stock reached a trading volume of 26553934 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Skillz Inc. [SKLZ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKLZ shares is $24.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKLZ stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 23, 2021. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on February 25, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $32, while Canaccord Genuity analysts kept a Buy rating on SKLZ stock.

The Average True Range (ATR) for Skillz Inc. is set at 1.46, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 29.67. The Price to Book ratio for the last quarter was 12.46, with the Price to Cash per share for the same quarter was set at 1.56.

SKLZ Stock Performance Analysis:

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.85. With this latest performance, SKLZ shares gained by 20.66% in over the last four-week period, additionally plugging by 4.45% over the last 6 months – not to mention a rise of 90.14% in the past year of trading.

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 57.05, with the RSI for the last a single of trading hit 59.63, and the three-weeks RSI is set at 54.67 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 17.74, while it was recorded at 19.73 for the last single week of trading, and 19.73 for the last 200 days.

Insight into Skillz Inc. Fundamentals:

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.30 and a Current Ratio set at 18.30.

Skillz Inc. [SKLZ] Insider Position Details

There are presently around $3,842 million, or 50.60% of SKLZ stock, in the hands of institutional investors. The top three institutional holders of SKLZ stocks are: MORGAN STANLEY with ownership of 33,789,952, which is approximately 62.941% of the company’s market cap and around 4.50% of the total institutional ownership; ATLAS VENTURE ASSOCIATES XI, LLC, holding 23,284,403 shares of the stock with an approximate value of $475.93 million in SKLZ stocks shares; and ATLAS VENTURE ASSOCIATES IX, LLC, currently with $469.36 million in SKLZ stock with ownership of nearly -1.381% of the company’s market capitalization.

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155 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 82,791,404 shares. Additionally, 69 investors decreased positions by around 25,542,511 shares, while 7 investors held positions by with 79,627,089 shares. The mentioned changes placed institutional holdings at 187,961,004 shares, according to the latest SEC report filing. SKLZ stock had 123 new institutional investments in for a total of 66,334,366 shares, while 39 institutional investors sold positions of 14,485,031 shares during the same period.

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