Skillz (NYSE:FIRY) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Skillz (NYSE:FIRY) from a sell rating to a strong sell rating in a report released on Sunday.

Separately, Weiss Ratings began coverage on Skillz in a research note on Monday, July 6th. They set a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Skillz Stock Performance

Shares of NYSE:FIRY opened at $9.39 on Friday. The company has a market capitalization of $146.53 million, a price-to-earnings ratio of -2.12 and a beta of 4.56. Skillz has a 52-week low of $2.23 and a 52-week high of $20.00.

Skillz (NYSE:FIRY) last announced its earnings results on Thursday, August 13th. The company reported ($1.52) earnings per share (EPS) for the quarter. Skillz had a negative net margin of 60.23% and a negative return on equity of 66.50%. The business had revenue of $30.99 million for the quarter.

Institutional Trading of Skillz

Several large investors have recently added to or reduced their stakes in FIRY. Hsbc Holdings PLC raised its holdings in Skillz by 17.6% in the 1st quarter. Hsbc Holdings PLC now owns 11,856 shares of the company’s stock worth $29,000 after purchasing an additional 1,774 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Skillz by 496.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 11,929 shares of the company’s stock worth $51,000 after acquiring an additional 9,929 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Skillz during the 4th quarter worth approximately $55,000. NewEdge Advisors LLC bought a new stake in Skillz during the 1st quarter worth approximately $73,000. Finally, Acadian Asset Management LLC purchased a new position in Skillz during the first quarter valued at approximately $80,000. 19.42% of the stock is currently owned by institutional investors.

About Skillz

Skillz Inc is a mobile games platform that enables developers to build competitive, skill-based games and allows players to compete against one another in real-time contests. The company provides tools and services designed to help game studios add tournament-style gameplay, player matching, and social competition features to mobile titles.

Through its platform, Skillz hosts and powers multiplayer competitions across a range of casual game genres, with an emphasis on monetization through paid contests and in-game competition.