Skullcandy Inc. (SKUL) Sees Unusually-High Trading Volume
Skullcandy Inc. (NASDAQ:SKUL) shares saw unusually-high trading volume on Wednesday . Approximately 589,119 shares changed 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.
SKUL has been the subject of several research reports. Zacks Investment Research upgraded shares of Skullcandy from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. DA Davidson downgraded shares of Skullcandy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $4.50 to $5.00 in a research note on Wednesday, June 8th. Wunderlich reiterated a “buy” rating and set a $7.00 price objective on shares of Skullcandy in a research note on Wednesday, June 8th. Roth Capital reiterated a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. Finally, TheStreet upgraded shares of Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.73.
The firm’s 50-day moving average price is $6.16 and its 200-day moving average price is $4.49. The stock has a market capitalization of $181.67 million and a P/E ratio of 105.33.
Skullcandy (NASDAQ:SKUL) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The firm earned $57.28 million during the quarter, compared to analysts’ expectations of $56.72 million. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. Equities analysts expect that Skullcandy Inc. will post $0.24 EPS for the current fiscal year.
In related news, Director Rick Alden sold 25,000 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $4.55, for a total value of $113,750.00. Following the transaction, the director now directly owns 731,324 shares of the company’s stock, valued at approximately $3,327,524.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $6.31, for a total transaction of $236,625.00. Following the completion of the transaction, the insider now directly owns 3,189,886 shares in the company, valued at $20,128,180.66. 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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