Skillz Inc. [SKLZ] Is Currently 1.65 below its 200 Period Moving Avg: What Dose This Mean?

Skillz Inc. [NYSE: SKLZ] gained 1.65% on the last trading session, reaching $14.78 price per share at the time. The company report on July 17, 2021 that Skillz Announces Date for Second Quarter 2021 Results.

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Skillz Inc. (NYSE: SKLZ) (“Skillz”), the leading mobile games platform bringing fair and fun competition to players worldwide, announced that it will release its second quarter 2021 results after the close of the market on Tuesday, August 3, 2021.

Skillz will post a stockholder letter discussing the second quarter results on its investor relations website at http://investors.skillz.com. A live question and answer conference call and audio webcast with analysts and investors will begin at 5:30pm Eastern Time (ET).

Skillz Inc. represents 359.83 million in outstanding shares, while the company has a total market value of $6.16 billion with the latest information. SKLZ stock price has been found in the range of $13.94 to $15.31.

If compared to the average trading volume of 20.22M shares, SKLZ reached a trading volume of 12876190 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 1.26, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 22.79. The Price to Book ratio for the last quarter was 9.01, with the Price to Cash per share for the same quarter was set at 1.47.

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 -16.54. With this latest performance, SKLZ shares dropped by -22.17% in over the last four-week period, additionally sinking by -40.26% over the last 6 months – not to mention a rise of 20.16% 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 31.24, with the RSI for the last a single of trading hit 23.32, and the three-weeks RSI is set at 36.84 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 18.13, while it was recorded at 15.42 for the last single week of trading, and 20.17 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 $2,780 million, or 50.80% 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 $344.14 million in SKLZ stocks shares; and ATLAS VENTURE ASSOCIATES IX, LLC, currently with $339.39 million in SKLZ stock with ownership of nearly -1.381% of the company’s market capitalization.

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154 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 82,912,458 shares. Additionally, 74 investors decreased positions by around 25,485,144 shares, while 9 investors held positions by with 79,688,941 shares. The mentioned changes placed institutional holdings at 188,086,543 shares, according to the latest SEC report filing. SKLZ stock had 121 new institutional investments in for a total of 66,465,470 shares, while 43 institutional investors sold positions of 14,488,261 shares during the same period.

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