Skillz Inc. [NYSE: SKLZ] loss -2.61% or -0.02 points to close at $0.53 with a heavy trading volume of 4560508 shares. The company report on March 14, 2023 that Big Potential Profit Plays In The Gaming Stocks Sector.
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The digital gaming sector is a rapidly growing industry with incredible investment potential. According to a recent report by PwC, the gaming industry is projected to reach a market value of $321 billion by 2026. This expansion is being fueled by a variety of factors, including advancements in gaming technology and rising demand for gaming products and services.
It opened the trading session at $0.5353, the shares rose to $0.5699 and dropped to $0.522, the range by which the price of stock traded the whole day. The daily chart for SKLZ points out that the company has recorded -61.66% loss over the past six months. However, it is still -17.78% lower than its most recent low trading price.
If we look at the average trading volume of 9.25M shares, SKLZ reached to a volume of 4560508 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 $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 0.06, with the Price to Sales ratio for SKLZ stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 1.04.
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 -8.48. With this latest performance, SKLZ shares dropped by -29.19% in over the last four-week period, additionally sinking by -61.66% over the last 6 months – not to mention a drop of -77.23% 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 35.79, with the RSI for the last a single of trading hit 32.72, and the three-weeks RSI is set at 38.50 for Skillz Inc. [SKLZ]. The present Moving Average for the last 50 days of trading for this stock 0.6965, while it was recorded at 0.5424 for the last single week of trading, and 1.1004 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 9.30 and a Current Ratio set at 9.30.
An analysis of insider ownership at Skillz Inc. [SKLZ]
There are presently around $80 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 $12.2 million in SKLZ stocks shares; and WILDCAT CAPITAL MANAGEMENT, LLC, currently with $11.53 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 18,252,010 shares. Additionally, 102 investors decreased positions by around 9,819,046 shares, while 58 investors held positions by with 122,306,669 shares. The mentioned changes placed institutional holdings at 150,377,725 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.