Saturday, June 25, 2022

Investing in Skillz Inc. (SKLZ) Is Getting More Attractive

Skillz Inc.’s filing revealed that its Director SLOAN HARRY acquired Company’s shares for reported $0.23 million on Mar 14. In the deal valued at $2.27 per share,100,000 shares were bought. As a result of this transaction, SLOAN HARRY now holds 291,423 shares worth roughly $ 0.41 million.

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Then, Bruckheimer Jerome Leon bought 101,215 shares, generating $248,989 in total proceeds. Upon buying the shares at $2.46, the Director now owns 133,109 shares.

Before that, SLOAN HARRY bought 94,880 shares. Skillz Inc. shares valued at $293,720 were divested by the Director at a price of $3.10 per share. As a result of the transaction, SLOAN HARRY now holds 191,423 shares, worth roughly $0.27 million.

Following these proceedings, Citigroup downgraded its Skillz Inc. [SKLZ] rating to a Neutral from a a Buy in a research note published on Tuesday, May 23, 2022; the price target was decreased to $2.10 from $5. PT values the company’s stock at a premium of 33.81 to its Tuesday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who remained covering the stock and in late February has reiterated a ‘”an Outperform”‘ rating for it. RBC Capital Mkts also remained covering SKLZ and reiterated its “Sector perform” recommendation on February 24, 2022. Canaccord Genuity maintained its rating on February 24, 2022. It rated SKLZ as “a Buy”.

Price Performance Review of SKLZ

On Tuesday, Skillz Inc. [NYSE:SKLZ] saw its stock jump 2.21% to $1.39. On the same session, the stock had its day’s lowest price of $1.37, but rose to a high of $1.48. Over the last five days, the stock has lost -1.42%. Skillz Inc. shares have fallen nearly -81.32% since the year began. Nevertheless, the stocks have fallen -92.76% over the past one year. While a 52-week high of $22.27 was reached on 01/04/22, a 52-week low of $1.28 was recorded on 06/14/22. SMA at 50 days reached $1.9256, while 200 days put it at $5.9509. A total of 8.91 million shares were traded, compared to the trading of 8.94 million shares in the previous session.

Levels Of Support And Resistance For SKLZ Stock

The 24-hour chart illustrates a support level at 1.3467, which if violated will result in even more drops to 1.3033. On the upside, there is a resistance level at 1.4567. A further resistance level may holdings at 1.5233. The Relative Strength Index (RSI) on the 14-day chart is 40.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.2479, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.93%. Stochastics %K at 12.33% indicates the stock is a buying.

Skillz Inc. [SKLZ] – Who Are The Largest Shareholders?

. Over the last quarter, BlackRock Fund Advisors sold -204,163 shares of Skillz Inc., while SSgA Funds Management, Inc. sold 2,564,912 shares. At present, D. E. Shaw & Co. LP is holding 6,536,035 shares valued at $12.42 million. Millennium Management LLC owned 3,953,187 shares of the company at the time of its most recent 13F filing, worth $7.51 million.

According to FactSet, Skillz Inc.’s share price will average $3.37 in the next year, based on opinions of analysts polled by the firm. This is up nearly 120.59 percent from its previous closing price of $1.36. Analysts expect Skillz Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $2.10. However, 8 analysts have rated SKLZ stock as an Overweight in their predictions for 2022.

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