Skillz (NYSE:SKLZ) Shares Up 2.7% – What’s Next?

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

Skillz Trading Up 2.7 %

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

Skillz (NYSE:SKLZ) last released its earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company earned ($1.57) earnings per share. On average, research analysts expect that Skillz Inc. will post -4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Skillz

Hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Skillz during the 4th quarter valued at about $35,000. Wealthquest Corp purchased a new stake in shares of Skillz in the third quarter valued at approximately $68,000. Jacobs Levy Equity Management Inc. lifted 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 buying an additional 30,903 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Skillz by 36.5% during the third quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock worth $904,000 after buying an additional 42,998 shares during the last quarter. Finally, Renaissance Technologies LLC grew 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 buying an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors 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.