Skillz (NYSE:SKLZ) Shares Up 6% – What’s Next?

Skillz Inc. (NYSE:SKLZ)’s share price rose 6% on Thursday . The company traded as high as $5.49 and last traded at $5.33. Approximately 188,750 shares changed hands 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 Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 5.80 and a current ratio of 5.80. The company’s 50 day moving average price is $5.27 and its 200-day moving average price is $5.84. The company has a market cap of $92.91 million, a PE ratio of -2.37 and a beta of 2.72.

Institutional Investors Weigh In On Skillz

Several large investors have recently added to or reduced their stakes in the company. Wealthquest Corp bought a new stake in Skillz during the 3rd quarter valued at $68,000. Dimensional Fund Advisors LP purchased a new position in shares of Skillz in the second quarter valued at $88,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Skillz by 58.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock valued at $472,000 after purchasing an additional 30,903 shares during the period. GSA Capital Partners LLP boosted its stake in 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 purchasing an additional 42,998 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Skillz by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 392,225 shares of the company’s stock worth $2,816,000 after purchasing an additional 3,200 shares during the period. 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.