Skullcandy Inc. (SKUL) Sees Large Volume Increase
Shares of Skullcandy Inc. (NASDAQ:SKUL) saw unusually-strong trading volume on Wednesday . Approximately 589,119 shares traded hands during trading, an increase of 116% from the previous session’s volume of 272,967 shares.The stock last traded at $6.31 and had previously closed at $6.42.
A number of equities research analysts recently weighed in on SKUL shares. Zacks Investment Research downgraded Skullcandy from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Wunderlich cut Skullcandy from a “buy” rating to a “hold” rating and decreased their price target for the company from $7.00 to $6.00 in a research note on Friday, June 24th. TheStreet upgraded Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. DA Davidson reiterated a “neutral” rating and issued a $6.10 price target on shares of Skullcandy in a research note on Saturday, August 13th. Finally, Roth Capital reiterated a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Skullcandy currently has a consensus rating of “Hold” and a consensus target price of $6.73.
The stock has a 50-day moving average of $6.15 and a 200 day moving average of $4.46. The stock has a market capitalization of $181.67 million and a PE ratio of 105.33.
Skullcandy (NASDAQ:SKUL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). During the same quarter in the prior year, the firm posted $0.04 EPS. The firm earned $57.28 million during the quarter, compared to analysts’ expectations of $56.72 million. Skullcandy’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Skullcandy Inc. will post $0.24 EPS for the current year.
In related news, major shareholder Ptarmagin, Llc sold 37,500 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $3.88, for a total transaction of $145,500.00. Following the completion of the transaction, the insider now directly owns 3,639,886 shares of the company’s stock, valued at approximately $14,122,757.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rick Alden sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $6.11, for a total value of $152,750.00. Following the transaction, the director now directly owns 706,324 shares of the company’s stock, valued at $4,315,639.64. The disclosure for this sale can be found here.
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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