Skillz Inc. [NYSE: SKLZ] plunged by -$0.06 during the normal trading session on Monday and reaching a high of $0.69 during the day while it closed the day at $0.61. The company report on February 28, 2023 that Skillz Announces Date for Fourth Quarter 2022 Results.
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Skillz Inc. (NYSE: SKLZ) (“Skillz”), the leading mobile games platform bringing fair and fun competition to players worldwide, today announced that it will release its fourth quarter and full year 2022 results after the close of the market on Tuesday, March 14, 2023.
Skillz will post an earnings release discussing its fourth quarter results on its investor relations website at investors.skillz.com. A live overview of the quarter as well as a question and answer (Q&A) conference call and audio webcast with analysts and investors will begin at 4:30pm Eastern Time (ET).
Skillz Inc. stock has also loss -1.55% of its value over the past 7 days. However, SKLZ stock has declined by -39.57% in the 3 months of the year. Over the past six months meanwhile, it has lost -53.05% and gained 20.49% year-on date.
The market cap for SKLZ stock reached $240.18 million, with 413.83 million shares outstanding and 280.91 million shares in the current float. Compared to the average trading volume of 9.42M shares, SKLZ reached a trading volume of 5389212 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 $1.44 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 0.72. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 1.18.
SKLZ stock trade performance evaluation
Skillz Inc. [SKLZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.55. With this latest performance, SKLZ shares dropped by -35.63% in over the last four-week period, additionally sinking by -53.05% over the last 6 months – not to mention a drop of -76.79% 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 39.71, with the RSI for the last a single of trading hit 36.98, and the three-weeks RSI is set at 41.78 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 0.6927, while it was recorded at 0.6262 for the last single week of trading, and 1.1367 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 $92 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 22,890,590 shares of the stock with an approximate value of $13.96 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $13.2 million in SKLZ stock with ownership of nearly 0% of the company’s market capitalization.
78 institutional holders increased their position in Skillz Inc. [NYSE:SKLZ] by around 18,237,910 shares. Additionally, 102 investors decreased positions by around 9,819,046 shares, while 58 investors held positions by with 122,297,669 shares. The mentioned changes placed institutional holdings at 150,354,625 shares, according to the latest SEC report filing. SKLZ stock had 30 new institutional investments in for a total of 6,663,147 shares, while 43 institutional investors sold positions of 4,298,968 shares during the same period.