Skillz (NYSE:FIRY) Shares Down 0.2% - Here's What Happened

Key Points

• Skillz shares dipped 0.2% in mid-day trading to $11.412, with trading volume 23% below its average; the company’s market capitalization was approximately $189.7 million.
• Analyst sentiment remains mixed, with one Buy and one Sell rating, producing a consensus “Hold” rating. Wall Street Zen upgraded the stock from “strong sell” to “sell,” while Weiss Ratings maintained its “sell (D-)” rating.
• Skillz reported a quarterly loss of $1.52 per share on $30.99 million in revenue, alongside a negative net margin of 60.23% and negative return on equity of 66.50%; institutional investors own 19.42% of the company.

Skillz Inc. (NYSE:FIRY - Get Free Report) shares fell 0.2% during mid-day trading on Monday. The stock traded as low as $11.01 and last traded at $11.4120. 107,038 shares traded hands during trading, a decline of 23% from the average daily volume of 139,172 shares. The stock had previously closed at $11.43.

Wall Street Analysts Forecast Growth

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

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Skillz from a "strong sell" rating to a "sell" rating in a research note on Monday, August 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Skillz in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Skillz Price Performance

The business has a 50-day simple moving average of $10.98. The stock has a market capitalization of $189.67 million, a PE ratio of -2.58 and a beta of 4.61.

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

Institutional Investors Weigh In On Skillz

A hedge fund recently raised its position in Skillz stock. Hsbc Holdings PLC boosted its holdings in shares of Skillz Inc. (NYSE:FIRY - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,856 shares of the company's stock after buying an additional 1,774 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Skillz worth $29,000 at the end of the most recent reporting period. Institutional investors own 19.42% of the company's stock.

Skillz Company Profile

Skillz Inc is a technology company that operates a mobile gaming platform designed to connect players through competitive play. Its platform enables users to compete in tournaments and head-to-head contests within mobile games, while providing developers with tools to add competition, player engagement and monetization features to their titles.

The company offers a software development kit, game-management tools and a marketplace that supports the distribution of competitive mobile games.

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