Skillz Inc. (NYSE:SKLZ) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 45,330,000 shares, an increase of 29.3% from the March 31st total of 35,060,000 shares. Currently, 19.6% of the shares of the company are sold short. Based on an average daily trading volume, of 16,590,000 shares, the short-interest ratio is presently 2.7 days.
SKLZ has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of Skillz from $30.00 to $28.00 in a research note on Thursday, March 25th. Wedbush initiated coverage on shares of Skillz in a research note on Tuesday, January 12th. They set an “outperform” rating on the stock. Zacks Investment Research lowered shares of Skillz from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th. Wells Fargo & Company initiated coverage on shares of Skillz in a research note on Friday, January 15th. They set an “equal weight” rating and a $28.00 price objective on the stock. Finally, Canaccord Genuity raised their price objective on shares of Skillz from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, March 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.71.
In other news, CTO Miriam Aguirre sold 274,825 shares of Skillz stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $23.34, for a total transaction of $6,414,415.50. Following the sale, the chief technology officer now owns 634,682 shares of the company’s stock, valued at $14,813,477.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Paradise sold 8,402,866 shares of Skillz stock in a transaction that occurred on Tuesday, March 23rd. The shares were sold at an average price of $23.34, for a total value of $196,122,892.44. Following the sale, the chief executive officer now directly owns 68,601,268 shares in the company, valued at approximately $1,601,153,595.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,424,095 shares of company stock worth $243,298,377.
Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in Skillz during the 4th quarter worth about $8,291,000. Artemis Investment Management LLP acquired a new stake in Skillz during the 4th quarter worth about $8,417,000. Stratos Wealth Partners LTD. acquired a new stake in Skillz during the 4th quarter worth about $344,000. California Public Employees Retirement System acquired a new stake in Skillz during the 4th quarter worth about $2,832,000. Finally, Cohen Capital Management Inc. acquired a new stake in Skillz during the 4th quarter worth about $4,600,000. 45.77% of the stock is owned by institutional investors and hedge funds.
Skillz stock traded up $0.44 during mid-day trading on Tuesday, hitting $16.96. The company’s stock had a trading volume of 29,027,969 shares, compared to its average volume of 15,782,615. Skillz has a twelve month low of $9.84 and a twelve month high of $46.30. The firm’s fifty day simple moving average is $19.52.
Skillz (NYSE:SKLZ) last posted its quarterly earnings data on Wednesday, March 10th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $67.72 million for the quarter, compared to analysts’ expectations of $62.82 million. Analysts predict that Skillz will post -0.33 EPS for the current fiscal year.
Skillz Company Profile
Skillz Inc operates a mobile games platform that connects players worldwide. Its platform hosts casual esports tournaments. The company was founded in 2012 and is headquartered in San Francisco, California.
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