Skillz (NYSE:SKLZ) Trading Down 3.3%

Skillz Inc. (NYSE:SKLZ) fell 3.3% on Tuesday . The company traded as low as $6.10 and last traded at $6.13. 107,442 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 168,120 shares. The stock had previously closed at $6.34.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of Skillz in a research report on Friday, March 15th.

Skillz Stock Performance

The business has a fifty day moving average of $6.46 and a 200-day moving average of $6.03. The company has a market cap of $131.49 million, a PE ratio of -1.12 and a beta of 2.83. 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) last posted its earnings results on Thursday, March 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.48) by $0.44. The firm had revenue of $29.14 million for the quarter, compared to analysts’ expectations of $38.39 million. Skillz had a negative return on equity of 50.98% and a negative net margin of 74.59%. Equities research analysts anticipate that Skillz Inc. will post -4.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Skillz by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,770 shares of the company’s stock worth $218,000 after acquiring an additional 7,362 shares in the last quarter. Olympiad Research LP bought a new position in shares of Skillz during the third quarter valued at approximately $75,000. Acadian Asset Management LLC lifted its holdings in shares of Skillz by 22.4% during the third quarter. Acadian Asset Management LLC now owns 106,074 shares of the company’s stock valued at $540,000 after purchasing an additional 19,439 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Skillz by 82.4% in the 4th quarter. Trexquant Investment LP now owns 121,587 shares of the company’s stock worth $759,000 after purchasing an additional 54,930 shares in the last quarter. Hedge funds and other institutional investors 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.