Skillz (NYSE:SKLZ) Price Target Cut to $15.00

Skillz (NYSE:SKLZ) had its target price trimmed by Wedbush from $20.00 to $15.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the company. Citigroup cut their target price on Skillz from $12.00 to $9.00 and set a neutral rating on the stock in a research report on Tuesday, August 29th. BTIG Research raised Skillz from a sell rating to a neutral rating in a research note on Monday, October 23rd.

Skillz Trading Up 7.0 %

NYSE SKLZ opened at $5.32 on Thursday. Skillz has a 12 month low of $3.96 and a 12 month high of $24.80. The company has a current ratio of 5.41, a quick ratio of 5.72 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $5.39 and its two-hundred day moving average price is $8.76. The firm has a market capitalization of $112.62 million, a PE ratio of -0.47 and a beta of 2.77.

Institutional Trading of Skillz

Several institutional investors and hedge funds have recently modified their holdings of the stock. Olympiad Research LP purchased a new stake in shares of Skillz in the third quarter worth approximately $75,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Skillz by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,770 shares of the company’s stock worth $218,000 after purchasing an additional 7,362 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Skillz in the second quarter worth approximately $128,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Skillz during the second quarter valued at approximately $145,000. Finally, PDT Partners LLC purchased a new stake in shares of Skillz during the second quarter valued at approximately $117,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.