Weak Fundamental Momentum Sinks Skillz Inc. – Marketing Sentinel
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Weak Fundamental Momentum Sinks Skillz Inc.

Skillz Inc. (NYSE:SKLZ) has seen 11.29 million shares traded in the last trading session. The company, currently valued at $4.98B, closed the last trade at $12.10 per share which meant it lost -$0.27 on the day or -2.18% during that session. The SKLZ stock price is -282.64% off its 52-week high price of $46.30 and 16.86% above the 52-week low of $10.06. If we look at the company’s 10-day average daily trading volume, we find that it stood at 32.96 million shares traded. The 3-month trading volume is 15.54 million shares.

The consensus among analysts is that Skillz Inc. (SKLZ) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 6 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.09.

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Skillz Inc. (NYSE:SKLZ) trade information

Sporting -2.18% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the SKLZ stock price touched $12.10 or saw a rise of 13.45%. Year-to-date, Skillz Inc. shares have moved -39.50%, while the 5-day performance has seen it change 11.52%. Over the past 30 days, the shares of Skillz Inc. (NYSE:SKLZ) have changed -2.02%. Short interest in the company has seen 73.18 million shares shorted with days to cover at 2.25.

Wall Street analysts have a consensus price target for the stock at $18.00, which means that the shares’ value could jump 32.78% from current levels. The projected low price target is $13.00 while the price target rests at a high of $25.00. In that case, then, we find that the current price level is -106.61% off the targeted high while a plunge would see the stock gain -7.44% from current levels.

Skillz Inc. (SKLZ) estimates and forecasts

Figures show that Skillz Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -50.51% over the past 6 months, with this year growth rate of -48.78%, compared to 23.60% for the industry. Revenue growth from the last financial year stood is estimated to be 69.50%.

6 analysts offering their estimates for the company have set an average revenue estimate of $88.78 million for the current quarter. 6 have an estimated revenue figure of $102.31 million for the next quarter concluding in Sep 2021.

SKLZ Dividends

Skillz Inc. is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Skillz Inc. (NYSE:SKLZ)’s Major holders

Insiders own 15.83% of the company shares, while shares held by institutions stand at 50.75% with a share float percentage of 60.29%. Investors are also buoyed by the number of investors in a company, with Skillz Inc. having a total of 221 institutions that hold shares in the company. The top two institutional holders are Morgan Stanley with over 33.79 million shares worth more than $643.36 million. As of Mar 30, 2021, Morgan Stanley held 10.34% of shares outstanding.

The other major institutional holder is Atlas Venture Associates IX, LLC, with the holding of over 22.96 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $437.21 million and represent 7.02% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Morgan Stanley Insight Fund and Morgan Stanley Inst Fund Tr-Discovery Port. As of Mar 30, 2021, the former fund manager holds about 3.60% shares in the company for having 11.76 million shares of worth $223.95 million while later fund manager owns 7.98 million shares of worth $152.0 million as of Mar 30, 2021, which makes it owner of about 2.44% of company’s outstanding stock.

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