Skillz Inc. [NYSE: SKLZ] gained 2.48% or 0.43 points to close at $17.75 with a heavy trading volume of 5957454 shares. The company report on July 8, 2021 that SKLZ Long-Term Investor Alert: Did You Acquire Skillz Inc. Before December 16, 2020? Should Management be Held Accountable for Investors Losses?.
Johnson Fistel, LLP is investigating potential claims on behalf of Skillz Inc. (“Skillz” or the “Company”) (NYSE: SKLZ) against certain of its officers and directors.
It opened the trading session at $17.30, the shares rose to $17.87 and dropped to $16.84, the range by which the price of stock traded the whole day. The daily chart for SKLZ points out that the company has recorded -20.26% loss over the past six months. However, it is still -73.0% lower than its most recent low trading price.
If we look at the average trading volume of 20.61M shares, SKLZ reached to a volume of 5957454 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]:
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 1.50, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 25.41. The Price to Book ratio for the last quarter was 10.82, with the Price to Cash per share for the same quarter was set at 1.58.
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 -12.95. With this latest performance, SKLZ shares dropped by -20.58% in over the last four-week period, additionally sinking by -20.26% over the last 6 months – not to mention a rise of 58.20% 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 41.62, with the RSI for the last a single of trading hit 35.52, and the three-weeks RSI is set at 44.79 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 18.23, while it was recorded at 18.21 for the last single week of trading, and 20.05 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 18.30 and a Current Ratio set at 18.30.
An analysis of insider ownership at Skillz Inc. [SKLZ]
There are presently around $3,339 million, or 50.70% 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 $413.3 million in SKLZ stocks shares; and ATLAS VENTURE ASSOCIATES IX, LLC, currently with $407.59 million in SKLZ stock with ownership of nearly -1.381% of the company’s market capitalization.
156 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 82,918,656 shares. Additionally, 69 investors decreased positions by around 25,542,316 shares, while 7 investors held positions by with 79,627,284 shares. The mentioned changes placed institutional holdings at 188,088,256 shares, according to the latest SEC report filing. SKLZ stock had 123 new institutional investments in for a total of 66,460,778 shares, while 40 institutional investors sold positions of 14,485,051 shares during the same period.