The reverse split will take place on Monday 26th June. On Monday, 26th June, the 1-20 reverse split announcement was made. After the bell rings on Monday, 26th June, shareholders' shares will be recalculated.
Skillz Stock Performance
Trading on Friday saw a decline of $0.13, bringing the price to $0.47. The trading volume was 55,197.009 shares compared to the average of 7,959.100. Skillz's 52-week low is $0.45, and its 52-week high is $2.18. The 50-day moving average of the firm is $0.58, and its 200-day moving average is $0.6. The company has a market cap of $199.05m, a P/E ratio of -0.61 a beta value of 2.67. The company last released its results on March 30th. The company's ($0.12) earnings per share for the third quarter exceeded analysts' expectations of ($0.13) ($0.13) by $0.01. Skillz reported a return on equity (ROE) of 51.25 % and a net margin (NMR) of 141.53%. The company's revenue for the third quarter was 46.87 million dollars, which is lower than analysts' expectations of 49.36 million dollars. Skillz is expected to post a -0.3 per-share profit for the current fiscal period, according to sell-side analysts.
Analyst Upgrades and downgrades
SKLZ was the subject of a few recent analyst reports. Wedbush reiterated its 'outperform rating' and set a price target of $3.75 on Skillz shares in a report published on Friday, March 31, 2019. Stifel Nicolaus reduced their price target for Skillz in a report published on April 3rd from $1.50 down to $1.25. They also set a buy' rating. Two analysts have given the stock a sell recommendation, while two others have assigned a hold recommendation and two more have assigned a buy recommendation. According to MarketBeat data, Skillz currently has a consensus of 'Hold.' The average price target is $2.17.
In a Friday, May 12th transaction, 1,342,656 of the company's shares were purchased. Stock was bought at an average of $0.52 per piece, for a transaction totaling $698,181.12. After the transaction was completed, the CEO now owns 10,299 303 shares of the company valued at $5,355,637.56. In the past 90 days, insiders purchased a total 3,050,000 shares worth $1,649 720. Insiders control 22.67% the stock of a company.
Institutional Inflows & Outflows
SKLZ has seen a number of institutional investors make recent changes to their holdings. Wells Fargo & Company MN increased its Skillz position by 90.3% during the fourth quarter. Wells Fargo & Company MN owns 50.089 shares worth $25,000. This is after acquiring 23,770 additional shares during the last quarter. Envestnet Asset Management Inc. increased its position in Skillz from 68.5% to $25,000 in the second quarter. Envestnet Asset Management Inc. owns 23,187 of the company stock, worth $29,000. This is after adding 9,426 additional shares during the last quarter. Prudential Financial Inc. acquired a new Skillz position during the second quarter, valued at approximately $29,000. Point72 Middle East FZE bought a new Skillz position in the fourth-quarter worth approximately $29,000. Verition Fund Management LLC also purchased shares of Skillz in the second quarter, valued at about $30,000. Hedge funds, other institutional investors and pension funds own 51.22% the stock of Skillz.
Skillz Inc is a mobile gaming platform that operates in the United States as well as internationally. The company's primary focus is on developing and supporting a proprietary technology platform hosted online that allows independent game developers and end-users to compete in tournaments. The company distributes its games via direct download from their website as well as third-party platforms.
MarketBeat.com offers a FREE daily email newsletter