Skillz Inc. [SKLZ] gain 45.80% so far this year. What now?

Skillz Inc. [NYSE: SKLZ] closed the trading session at $0.74 on 01/13/23. The day’s price range saw the stock hit a low of $0.67, while the highest price level was $0.748. The company report on December 20, 2022 that Skillz Receives Notice of Non-Compliance with NYSE Trading Share Price Listing Rule.

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Skillz Inc. (NYSE: SKLZ) (“Skillz” or the “Company”), the leading mobile games platform bringing fair competition to players worldwide, today announced that it received a notice from the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Class A common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of Skillz’s Class A common stock from the NYSE.

The Company plans to notify the NYSE by January 3, 2023 that it intends to cure the stock price deficiency and to return to compliance with the NYSE continued listing standard. The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The Company intends to consider available alternatives, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders, if necessary to cure the stock price non-compliance. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval at its next annual meeting of stockholders, the price condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days.

The stocks have a year to date performance of 45.80 percent and weekly performance of 41.86 percent. The stock has been moved at -42.75 percent over the last six months. The stock has performed -12.52 percent around the most recent 30 days and changed -19.24 percent over the most recent 3-months.

If compared to the average trading volume of 10.07M shares, SKLZ reached to a volume of 10603118 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $1.45 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 2.70. 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.

BTIG Research have made an estimate for Skillz Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on October 12, 2022. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $5 to $1.50. The new note on the price target was released on August 04, 2022, representing the official price target for Skillz Inc. stock. Previously, the target price had yet another drop from $5 to $2.10, while Citigroup kept a Neutral rating on SKLZ stock. On February 24, 2022, analysts decreased their price target for SKLZ shares from 25 to 7.50.

The Average True Range (ATR) for Skillz Inc. is set at 0.07, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 0.71, with the Price to Cash per share for the same quarter was set at 1.23.

SKLZ stock trade performance evaluation

Skillz Inc. [SKLZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 41.86. With this latest performance, SKLZ shares dropped by -12.52% in over the last four-week period, additionally sinking by -42.75% over the last 6 months – not to mention a drop of -88.30% 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 57.31, with the RSI for the last a single of trading hit 69.40, and the three-weeks RSI is set at 50.93 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 0.8167, while it was recorded at 0.6376 for the last single week of trading, and 1.4029 for the last 200 days.

Skillz Inc. [SKLZ]: An insightful look at the core fundamentals

Skillz Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 9.30.

Skillz Inc. [SKLZ]: Insider Ownership positions

There are presently around $104 million, or 44.30% 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 3.70% of the total institutional ownership; BLACKROCK INC., holding 21,707,771 shares of the stock with an approximate value of $16.04 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $15.99 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.

71 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 10,577,614 shares. Additionally, 113 investors decreased positions by around 26,166,964 shares, while 65 investors held positions by with 104,251,928 shares. The mentioned changes placed institutional holdings at 140,996,506 shares, according to the latest SEC report filing. SKLZ stock had 16 new institutional investments in for a total of 2,055,065 shares, while 47 institutional investors sold positions of 9,525,726 shares during the same period.


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