Skillz (NYSE:SKLZ) Trading Up 6% – Should You Buy?

Skillz Inc. (NYSE:SKLZ) rose 6% on Thursday . The company traded as high as $5.49 and last traded at $5.33. Approximately 188,750 shares were traded during trading, an increase of 61% from the average daily volume of 116,937 shares. The stock had previously closed at $5.03.

Skillz Stock Down 2.8 %

The stock has a market cap of $90.29 million, a P/E ratio of -2.30 and a beta of 2.72. The firm has a 50 day simple moving average of $5.26 and a 200-day simple moving average of $5.83. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63.

Institutional Trading of Skillz

A number of hedge funds have recently modified their holdings of the stock. Wealthquest Corp bought a new position in Skillz in the 3rd quarter valued at about $68,000. Jacobs Levy Equity Management Inc. increased its position in Skillz by 58.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock worth $472,000 after acquiring an additional 30,903 shares during the period. GSA Capital Partners LLP raised its position in shares of Skillz by 36.5% in the third quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock valued at $904,000 after buying an additional 42,998 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Skillz by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 392,225 shares of the company’s stock valued at $2,816,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Skillz during the 2nd quarter valued at $88,000. Institutional investors and hedge funds own 19.42% of the company’s stock.

Skillz Company Profile

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.