Skillz Inc. [NYSE: SKLZ] stock went on a downward path that fall over -2.36% on Friday, amounting to a one-week price decrease of less than -12.57%. The company report on December 27, 2021 that SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Skillz, Inc. (SKLZ) and Encourages Long-Term SKLZ Stockholders to Contact the Firm.
Kaskela Law LLC announces that it is investigating Skillz, Inc. (“Skillz” or the “Company”) (NYSE:SKLZ) on behalf of the Company’s stockholders.
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Recently an amended securities fraud complaint was filed against Skillz on behalf of investors who purchased shares of the Company’s common stock between December 16, 2020 and May 4, 2021. According to the complaint, during that time period Skillz and certain of the Company’s executive officers “disseminated false and misleading statements and omissions that materially misrepresented Skillz’s purported financial condition and prospects, and concealed and obscured material facts, that inflated the market price of Skillz common stock.”.
Over the last 12 months, SKLZ stock dropped by -62.80%. The one-year Skillz Inc. stock forecast points to a potential upside of 53.0. The average equity rating for SKLZ stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.03 billion, with 395.05 million shares outstanding and 285.68 million shares in the current float. Compared to the average trading volume of 14.73M shares, SKLZ stock reached a trading volume of 10262385 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 $15.83 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 2.00. 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.
Citigroup have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 03, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Neutral. The new note on the price target was released on October 27, 2021, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another raise to $17, while RBC Capital Mkts analysts kept a Sector Perform rating on SKLZ stock.
The Average True Range (ATR) for Skillz Inc. is set at 0.70, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 8.84. The Price to Book ratio for the last quarter was 4.18, with the Price to Cash per share for the same quarter was set at 1.33.
SKLZ Stock Performance Analysis:
Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.57. With this latest performance, SKLZ shares dropped by -10.04% in over the last four-week period, additionally sinking by -61.89% over the last 6 months – not to mention a drop of -62.80% 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 38.10, with the RSI for the last a single of trading hit 37.04, and the three-weeks RSI is set at 39.37 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 9.84, while it was recorded at 7.52 for the last single week of trading, and 13.77 for the last 200 days.
Insight into Skillz Inc. Fundamentals:
Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.10 and a Current Ratio set at 7.10.
Skillz Inc. [SKLZ] Insider Position Details
There are presently around $1,314 million, or 50.90% 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 22,909,859, which is approximately 0% of the company’s market cap and around 4.90% of the total institutional ownership; WILDCAT CAPITAL MANAGEMENT, LLC, holding 21,265,819 shares of the stock with an approximate value of $158.22 million in SKLZ stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $140.14 million in SKLZ stock with ownership of nearly -23.443% of the company’s market capitalization.
142 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 23,708,376 shares. Additionally, 103 investors decreased positions by around 47,763,037 shares, while 44 investors held positions by with 105,135,337 shares. The mentioned changes placed institutional holdings at 176,606,750 shares, according to the latest SEC report filing. SKLZ stock had 64 new institutional investments in for a total of 4,294,375 shares, while 44 institutional investors sold positions of 5,745,762 shares during the same period.