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

Wall Street Zen upgraded shares of Skillz (NYSE:FIRY) from a strong sell rating to a sell rating in a research report report published on Monday morning,Wall Street Zen reports.

Separately, Weiss Ratings started coverage on shares of Skillz in a research report on Monday, July 6th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Skillz Stock Up 0.4%

Shares of NYSE FIRY opened at $9.88 on Monday. Skillz has a twelve month low of $2.23 and a twelve month high of $20.00. The company has a market capitalization of $164.21 million, a P/E ratio of -2.24 and a beta of 4.56.

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

Hedge Funds Weigh In On Skillz

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP raised its position in shares of Skillz by 321.0% during the 3rd quarter. Two Sigma Investments LP now owns 77,072 shares of the company’s stock valued at $617,000 after purchasing an additional 58,765 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Skillz by 80.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 116,052 shares of the company’s stock worth $928,000 after acquiring an additional 51,724 shares during the last quarter. Squarepoint Ops LLC raised its stake in Skillz by 122.6% during the fourth quarter. Squarepoint Ops LLC now owns 80,054 shares of the company’s stock valued at $345,000 after purchasing an additional 44,092 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Skillz during the 1st quarter valued at about $73,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Skillz in the 1st quarter valued at approximately $95,000. 19.42% of the stock is currently owned by hedge funds and other 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.