Skillz (NYSE:FIRY) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Skillz (NYSE:FIRY) from a sell rating to a strong sell rating in a research note issued to investors on Sunday morning.

Separately, Weiss Ratings assumed coverage on shares of Skillz in a report 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Skillz Trading Up 0.8%

Shares of FIRY opened at $9.85 on Friday. The stock has a market cap of $153.76 million, a price-to-earnings ratio of -2.23 and a beta of 4.56. Skillz has a 1 year low of $2.23 and a 1 year high of $20.00.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in Skillz in the fourth quarter valued at about $44,000. Public Employees Retirement System of Ohio raised its position in shares of Skillz by 496.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,929 shares of the company’s stock worth $51,000 after purchasing an additional 9,929 shares during the period. Millennium Management LLC acquired a new stake in shares of Skillz during the third quarter worth about $97,000. Hudson Bay Capital Management LP bought a new position in shares of Skillz during the 4th quarter valued at about $55,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Skillz during the 2nd quarter valued at about $93,000. 19.42% of the stock is currently owned by institutional investors.

Skillz Company Profile

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.