Skullcandy Inc. (NASDAQ:SKUL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.01, but opened at $6.06. Skullcandy shares last traded at $6.23, with a volume of 265,310 shares trading hands.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Skullcandy from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. Roth Capital reiterated a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. Wunderlich reiterated a “buy” rating and issued a $7.00 target price on shares of Skullcandy in a research note on Wednesday, June 8th. DA Davidson cut shares of Skullcandy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $4.50 to $5.00 in a research note on Wednesday, June 8th. Finally, TheStreet upgraded shares of Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.84.

The stock has a 50 day moving average price of $5.76 and a 200-day moving average price of $4.14. The firm has a market capitalization of $177.49 million and a price-to-earnings ratio of 38.99.

Skullcandy (NASDAQ:SKUL) last announced its earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $46.30 million for the quarter, compared to analyst estimates of $45.10 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Skullcandy Inc. will post $0.23 EPS for the current fiscal year.

In related news, major shareholder Ptarmagin, Llc sold 37,500 shares of the stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $3.33, for a total transaction of $124,875.00. Following the completion of the sale, the insider now directly owns 3,789,886 shares of the company’s stock, valued at $12,620,320.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rick Alden sold 25,000 shares of the stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $4.55, for a total value of $113,750.00. Following the sale, the director now directly owns 731,324 shares of the company’s stock, valued at $3,327,524.20. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Skullcandy stock. Dimensional Fund Advisors LP increased its stake in Skullcandy Inc. (NASDAQ:SKUL) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,506,475 shares of the company’s stock after buying an additional 14,155 shares during the period. Dimensional Fund Advisors LP owned 5.28% of Skullcandy worth $7,126,000 as of its most recent SEC filing.

Skullcandy, Inc creates audio experiences through its Skullcandy and Astro Gaming brands. The Company operates in two segments: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to customers in the United States. The International segment includes Skullcandy product sales to customers in Europe, Asia, Canada Mexico, and all other geographic areas outside the United States that are served by the Company’s International operations.

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