Skillz (NYSE:SKLZ) Rating Lowered to “Sell” at Wall Street Zen

Skillz (NYSE:SKLZ) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts also recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Skillz in a research note on Wednesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of Skillz in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

Skillz Stock Performance

SKLZ opened at $6.25 on Friday. The company has a fifty day moving average of $7.36 and a two-hundred day moving average of $7.04. The stock has a market capitalization of $108.86 million, a price-to-earnings ratio of -1.51 and a beta of 3.00. Skillz has a fifty-two week low of $3.54 and a fifty-two week high of $9.11.

Skillz (NYSE:SKLZ) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.14. The business had revenue of $27.37 million for the quarter, compared to the consensus estimate of $29.05 million. Skillz had a negative net margin of 69.44% and a negative return on equity of 39.99%. On average, equities research analysts forecast that Skillz will post -4.35 earnings per share for the current year.

Institutional Trading of Skillz

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Skillz in the third quarter valued at $385,000. Trexquant Investment LP grew its position in shares of Skillz by 56.5% in the 1st quarter. Trexquant Investment LP now owns 70,330 shares of the company’s stock valued at $316,000 after buying an additional 25,405 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Skillz during the second quarter worth about $145,000. Goldman Sachs Group Inc. acquired a new stake in shares of Skillz in the first quarter valued at approximately $95,000. Finally, Acadian Asset Management LLC acquired a new position in Skillz in the first quarter valued at $80,000. Institutional investors and hedge funds 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.