Skillz (NYSE:SKLZ) Stock Price Down 8% – Time to Sell?

Skillz Inc. (NYSE:SKLZ)’s stock price dropped 8% during trading on Thursday . The stock traded as low as $3.10 and last traded at $3.1190. Approximately 77,814 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 67,345 shares. The stock had previously closed at $3.39.

Analysts Set New Price Targets

SKLZ has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Skillz from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skillz in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Skillz Stock Down 8.0%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32. The firm has a market capitalization of $47.13 million, a price-to-earnings ratio of -0.75 and a beta of 2.99. The business’s 50-day moving average is $4.62 and its two-hundred day moving average is $6.40.

Skillz (NYSE:SKLZ) last issued its quarterly earnings data on Thursday, December 11th. The company reported ($1.14) earnings per share (EPS) for the quarter. Skillz had a negative net margin of 69.44% and a negative return on equity of 50.96%. The business had revenue of $27.37 million during the quarter. On average, equities analysts anticipate that Skillz Inc. will post -4.35 earnings per share for the current year.

Institutional Trading of Skillz

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Skillz by 335.6% during the third quarter. Pacer Advisors Inc. now owns 5,645 shares of the company’s stock worth $45,000 after purchasing an additional 4,349 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Skillz in the first quarter valued at approximately $80,000. Bridgeway Capital Management LLC bought a new position in shares of Skillz during the 2nd quarter worth approximately $93,000. Goldman Sachs Group Inc. acquired a new position in shares of Skillz during the 1st quarter worth approximately $95,000. Finally, Millennium Management LLC bought a new stake in Skillz in the 3rd quarter valued at $97,000. 19.42% of the stock is owned by institutional investors.

Skillz Company Profile

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.