Skillz (NYSE:SKLZ – Get Rating) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Other research analysts have also issued research reports about the company. Citigroup lowered Skillz from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $2.10 in a research report on Monday, May 23rd. Canaccord Genuity Group lowered Skillz from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Skillz has an average rating of “Hold” and an average price target of $6.80.
Skillz Price Performance
SKLZ stock opened at $1.68 on Thursday. The company has a quick ratio of 7.12, a current ratio of 7.12 and a debt-to-equity ratio of 0.51. Skillz has a 52-week low of $1.15 and a 52-week high of $13.98. The stock’s 50 day moving average is $1.50 and its two-hundred day moving average is $2.49. The company has a market capitalization of $688.00 million, a PE ratio of -2.75 and a beta of 2.37.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. boosted its position in Skillz by 9.6% during the 4th quarter. Xponance Inc. now owns 35,635 shares of the company’s stock worth $265,000 after acquiring an additional 3,116 shares during the period. Teacher Retirement System of Texas boosted its position in Skillz by 23.5% during the 4th quarter. Teacher Retirement System of Texas now owns 19,478 shares of the company’s stock worth $145,000 after acquiring an additional 3,704 shares during the period. Swiss National Bank boosted its position in Skillz by 2.2% during the 4th quarter. Swiss National Bank now owns 220,500 shares of the company’s stock worth $1,641,000 after acquiring an additional 4,700 shares during the period. Lazard Asset Management LLC acquired a new position in Skillz during the 4th quarter worth $37,000. Finally, Signaturefd LLC raised its stake in shares of Skillz by 106.7% in the 1st quarter. Signaturefd LLC now owns 10,850 shares of the company’s stock worth $33,000 after buying an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 44.94% of the company’s stock.
Skillz Company Profile
Skillz Inc operates a mobile games platform that connects players in fair, fun, and meaningful competition. 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 worldwide.
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