Skillz (NYSE:SKLZ) Upgraded to “Strong-Buy” at Wedbush

Skillz (NYSE:SKLZ) was upgraded by research analysts at Wedbush to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen raised shares of Skillz from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Skillz Stock Up 3.4%

Shares of NYSE SKLZ opened at $7.28 on Tuesday. Skillz has a twelve month low of $3.54 and a twelve month high of $7.30. The stock’s 50 day moving average price is $6.08 and its 200-day moving average price is $5.57. The company has a market capitalization of $126.89 million, a PE ratio of -3.34 and a beta of 2.76.

Skillz (NYSE:SKLZ) last issued its earnings results on Thursday, May 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. Skillz had a negative net margin of 39.33% and a negative return on equity of 35.10%. The business had revenue of $22.41 million for the quarter, compared to analysts’ expectations of $21.57 million. As a group, research analysts expect that Skillz will post -4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Occudo Quantitative Strategies LP purchased a new stake in Skillz during the fourth quarter valued at about $57,000. Vista Cima Wealth Management LLC purchased a new stake in Skillz during the first quarter valued at about $67,000. LPL Financial LLC purchased a new stake in Skillz during the fourth quarter valued at about $74,000. BNP Paribas Financial Markets purchased a new stake in Skillz during the fourth quarter valued at about $78,000. Finally, Acadian Asset Management LLC purchased a new stake in Skillz during the first quarter valued at about $80,000. Institutional investors own 19.42% of the company’s stock.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.