The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Skillz Inc. shares valued at $227,000 were purchased by SLOAN HARRY on Mar 14. At $2.27 per share, SLOAN HARRY acquired 100,000 shares. The insider’s holdings grew to 291,423 shares worth approximately $0.46 million following the completion of this transaction.
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Also, Bruckheimer Jerome Leon purchased 101,215 shares, netting a total of over 248,989 in proceeds. Following the buying of shares at $2.46 each, the insider now holds 133,109 shares.
Before that, SLOAN HARRY had added 94,880 shares to its account. In a trade valued at $293,720, the Director bought Skillz Inc. shares for $3.10 each. Upon closing the transaction, the insider’s holdings increased to 94,880 shares, worth approximately $0.3 million.
As published in a research note from Canaccord Genuity on August 04, 2022, Skillz Inc. [SKLZ] has been rated down from a Buy to a Hold and the price target has been revised to $1.50 from $5. This represents a -4.67% premium over Thursday’s closing price. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late May. As of February 24, 2022, Wedbush has reiterated its “an Outperform” rating for SKLZ. Earlier on February 24, 2022, RBC Capital Mkts resumed its rating. Their recommendation was “a Sector perform” for SKLZ stock.
Analyzing SKLZ’s Price Performance
On Thursday, Skillz Inc. [NYSE: SKLZ] plunged -13.26% to $1.57. The stock’s lowest price that day was $1.51, but it reached a high of $1.65 in the same session. During the last five days, there has been a surge of approximately 2.61%. Over the course of the year, Skillz Inc. shares have dropped approximately -78.90%. Shares of the company reached a 52-week high of $7.7800 on 01/04/22 and a 52-week low of $1.1500 on 06/30/22. A 50-day SMA is recorded $1.5120, while a 200-day SMA reached $4.5938. Nevertheless, trading volume fell to 11.81 million shares from 8.5 million shares the previous day.
Support And Resistance Levels for Skillz Inc. (SKLZ)
According to the 24-hour chart, there is a support level at 1.5033, which, if violated, would cause prices to drop to 1.4367. In the upper region, resistance lies at 1.6433. The next price resistance is at 1.7167. RSI (Relative Strength Index) is 52.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1636, which suggests the price will decrease in the coming days. Percent R is at 51.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Skillz Inc. subject to short interest?
Stocks of Skillz Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -5.4 million shares to 55.31 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 60.71 million shares. A decline of -9.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.65 of the overall float, the days-to-cover ratio (short ratio) decline to 5.65.
Which companies own the most shares of Skillz Inc. (SKLZ)?
According to Wildcat Capital Management LLC filings, the company currently owns 21,632,157 shares, which is about 6.35% of the total SKLZ shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 21632157.0 shares. The Vanguard Group, Inc. acquire a 4.37% interest valued at $18.9 million while BlackRock Fund Advisors sold a -204,163 stake. A total of 2,564,912 shares of Skillz Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 6,536,035 by D. E. Shaw & Co. LP. In its current portfolio, Millennium Management LLC holds 3,953,187 shares valued at $4.9 million.
In terms of Skillz Inc. share price expectations, FactSet research, analysts set an average price target of $2.40 in the next 12 months, up nearly 38.12% from the previous closing price of $1.81. Analysts anticipate Skillz Inc. stock to reach $3.75 by 2022, with the lowest price target being $1.50. In spite of this, 8 analysts ranked Skillz Inc. stock as a Hold at the end of 2022. On February 24, 2022, Canaccord Genuity assigned a price target of “a Buy” to the stock and reiterated coverage with a $7.