Skillz (NYSE:SKLZ) Trading 6% Higher – What’s Next?

Skillz Inc. (NYSE:SKLZ)’s share price traded up 6% on Thursday . The company traded as high as $5.49 and last traded at $5.33. 188,750 shares changed hands during trading, an increase of 61% from the average session volume of 116,937 shares. The stock had previously closed at $5.03.

Skillz Stock Up 6.0 %

The stock’s fifty day moving average is $5.27 and its two-hundred day moving average is $5.84. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.63. The firm has a market cap of $92.91 million, a P/E ratio of -2.37 and a beta of 2.72.

Hedge Funds Weigh In On Skillz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKLZ. Wealthquest Corp bought a new position in shares of Skillz in the 3rd quarter worth $68,000. Dimensional Fund Advisors LP bought a new stake in shares of Skillz during the 2nd quarter worth $88,000. Jacobs Levy Equity Management Inc. grew its position in Skillz by 58.3% in 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 in the last quarter. GSA Capital Partners LLP increased its stake in 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 acquiring an additional 42,998 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Skillz by 0.8% during the second quarter. Renaissance Technologies LLC now owns 392,225 shares of the company’s stock valued at $2,816,000 after purchasing an additional 3,200 shares in the last quarter. 19.42% of the stock is currently owned by hedge funds and other institutional investors.

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.