Wall Street Zen Upgrades Skillz (NYSE:FIRY) to "Sell"

Key Points

• Wall Street Zen upgraded Skillz from “strong sell” to “sell,” while Weiss Ratings initiated coverage with a “sell (D-)” rating. MarketBeat’s consensus rating is currently “Hold,” based on one Buy and one Sell rating.
• Skillz reported a quarterly loss of $1.52 per share on $30.99 million in revenue, with a negative net margin of 60.23% and negative return on equity of 66.50%.
• The stock opened at $9.85, with a market capitalization of approximately $163.7 million and a 52-week range of $2.23 to $20.00; institutional investors and hedge funds own 19.42% of shares.

Skillz (NYSE:FIRY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Monday.

• Skillz Inc NYSE: SKLZ Stock a Buy: An Esports Platform with Upside

Separately, Weiss Ratings assumed coverage on shares of Skillz in a research note on Monday, July 6th. They set a "sell (d-)" rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

Skillz Stock Up 0.1%

FIRY stock opened at $9.85 on Monday. The firm has a market cap of $163.71 million, a price-to-earnings ratio of -2.23 and a beta of 4.56. Skillz has a 52-week low of $2.23 and a 52-week high of $20.00.

Skillz (NYSE:FIRY - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.52) earnings per share for the quarter. The company had revenue of $30.99 million for the quarter. Skillz had a negative net margin of 60.23% and a negative return on equity of 66.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FIRY. Hsbc Holdings PLC raised its position in Skillz by 17.6% in the 1st quarter. Hsbc Holdings PLC now owns 11,856 shares of the company's stock valued at $29,000 after purchasing an additional 1,774 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Skillz by 496.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,929 shares of the company's stock worth $51,000 after buying an additional 9,929 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Skillz during the fourth quarter worth approximately $55,000. NewEdge Advisors LLC purchased a new stake in shares of Skillz during the first quarter worth approximately $73,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Skillz during the first quarter worth approximately $80,000. 19.42% of the stock is owned by institutional investors and hedge funds.

About Skillz

Skillz Inc is a mobile games platform that enables developers to build competitive, skill-based games and allows players to compete against one another in real-time contests. The company provides tools and services designed to help game studios add tournament-style gameplay, player matching, and social competition features to mobile titles.

Through its platform, Skillz hosts and powers multiplayer competitions across a range of casual game genres, with an emphasis on monetization through paid contests and in-game competition.

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