Skillz (NYSE:SKLZ) Trading Up 2.7% – Should You Buy?

Skillz Inc. (NYSE:SKLZ) traded up 2.7% during trading on Friday . The company traded as high as $6.67 and last traded at $6.63. 90,183 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 154,918 shares. The stock had previously closed at $6.46.

Skillz Stock Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $5.40 and its 200 day moving average price is $5.71. The stock has a market capitalization of $115.63 million, a price-to-earnings ratio of -2.95 and a beta of 2.71.

Skillz (NYSE:SKLZ) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.22). Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%. The firm had revenue of $24.56 million during the quarter, compared to analyst estimates of $27.34 million. During the same period in the previous year, the firm posted ($1.57) earnings per share. Analysts forecast that Skillz Inc. will post -4.33 EPS for the current fiscal year.

Institutional Trading of Skillz

A number of hedge funds and other institutional investors have recently made changes to their positions in SKLZ. R Squared Ltd acquired a new position in shares of Skillz in the fourth quarter valued at approximately $35,000. Wealthquest Corp purchased a new position in Skillz in the 3rd quarter valued at $68,000. Dimensional Fund Advisors LP acquired a new position in Skillz in the 2nd quarter valued at $88,000. Jacobs Levy Equity Management Inc. raised its position in Skillz by 58.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock worth $472,000 after buying an additional 30,903 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Skillz by 36.5% in the 3rd quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock worth $904,000 after acquiring an additional 42,998 shares during the period. Institutional investors and hedge funds own 19.42% of the company’s stock.

About Skillz

Skillz Inc operates a mobile game platform in the United States and internationally. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users. The company distributes games through direct app download from its website, as well as through third-party platforms.