Skillz Inc. (NYSE:SKLZ – Get Free Report) shares traded up 6.4% during mid-day trading on Friday . The company traded as high as $7.17 and last traded at $7.14. 202,247 shares changed hands during trading, an increase of 33% from the average session volume of 152,296 shares. The stock had previously closed at $6.71.
Wall Street Analyst Weigh In
Separately, Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Skillz in a report on Friday, May 10th.
Skillz Price Performance
The business’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.28. The company has a market capitalization of $153.15 million, a P/E ratio of -1.40 and a beta of 2.78. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.54.
Skillz (NYSE:SKLZ – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.21). Skillz had a negative return on equity of 48.43% and a negative net margin of 78.69%. The firm had revenue of $25.24 million for the quarter, compared to the consensus estimate of $29.54 million. During the same period last year, the firm earned ($1.80) EPS. As a group, sell-side analysts predict that Skillz Inc. will post -4.81 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Skillz by 16.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,592 shares of the company’s stock worth $225,000 after buying an additional 4,800 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Skillz by 547.5% in the third quarter. Trexquant Investment LP now owns 66,657 shares of the company’s stock worth $340,000 after acquiring an additional 56,363 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Skillz by 227.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 97,829 shares of the company’s stock valued at $635,000 after acquiring an additional 67,966 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Skillz by 22.4% in the 3rd quarter. Acadian Asset Management LLC now owns 106,074 shares of the company’s stock worth $540,000 after purchasing an additional 19,439 shares during the last quarter. 19.42% of the stock is owned by hedge funds and other institutional investors.
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.