Skillz (NYSE:FIRY) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Skillz from “sell” to “strong sell,” while Weiss Ratings assigned a “sell (D-)” rating. MarketBeat’s analyst consensus remains “Hold,” based on one Buy and one Sell rating.
• Skillz shares opened at $9.85, with a market capitalization of $153.76 million and a 52-week range of $2.23 to $20.00. The stock has a high beta of 4.56 and a negative price-to-earnings ratio.
• The company 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 and hedge funds own 19.42% of the stock.

Skillz (NYSE:FIRY - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Sunday.

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

Separately, Weiss Ratings assumed coverage on Skillz in a report on Monday, July 6th. They issued a "sell (d-)" rating for the company. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Skillz Price Performance

Shares of NYSE:FIRY opened at $9.85 on Friday. Skillz has a one year low of $2.23 and a one year high of $20.00. The firm has a market cap of $153.76 million, a PE ratio of -2.23 and a beta of 4.56.

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

Hedge Funds Weigh In On Skillz

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of Skillz in the first quarter worth $80,000. Goldman Sachs Group Inc. bought a new position in Skillz in the 1st quarter valued at approximately $95,000. XTX Topco Ltd bought a new position in shares of Skillz in the 2nd quarter valued at $112,000. Jane Street Group LLC boosted its stake in shares of Skillz by 15.9% during the second quarter. Jane Street Group LLC now owns 27,282 shares of the company's stock valued at $186,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Skillz by 122.6% during the 4th quarter. Squarepoint Ops LLC now owns 80,054 shares of the company's stock worth $345,000 after buying an additional 44,092 shares during the period. 19.42% of the stock is currently owned by institutional investors and hedge funds.

Skillz Company Profile

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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