Skillz (NYSE:SKLZ) Trading 1.8% Higher – Time to Buy?

Skillz Inc. (NYSE:SKLZ) was up 1.8% during trading on Thursday . The stock traded as high as $4.45 and last traded at $4.43. Approximately 49,815 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 72,103 shares. The stock had previously closed at $4.35.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKLZ. Weiss Ratings restated a “sell (d-)” rating on shares of Skillz in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Skillz from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.00.

Skillz Price Performance

The company has a market cap of $66.94 million, a P/E ratio of -1.07 and a beta of 2.89. The stock has a 50-day simple moving average of $5.37 and a 200 day simple moving average of $6.81. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32.

Skillz (NYSE:SKLZ) last issued its earnings results on Thursday, December 11th. The company reported ($1.14) EPS for the quarter. The firm had revenue of $27.37 million during the quarter. Skillz had a negative net margin of 69.44% and a negative return on equity of 50.96%. On average, equities analysts expect that Skillz Inc. will post -4.35 EPS for the current year.

Institutional Trading of Skillz

Several institutional investors have recently made changes to their positions in SKLZ. Pacer Advisors Inc. lifted its stake in Skillz by 335.6% during the third quarter. Pacer Advisors Inc. now owns 5,645 shares of the company’s stock worth $45,000 after purchasing an additional 4,349 shares during the period. Vista Cima Wealth Management LLC bought a new position in shares of Skillz during the 1st quarter worth approximately $67,000. Acadian Asset Management LLC bought a new position in shares of Skillz during the 1st quarter worth approximately $80,000. Bridgeway Capital Management LLC acquired a new stake in Skillz in the 2nd quarter valued at $93,000. Finally, Goldman Sachs Group Inc. bought a new stake in Skillz in the first quarter valued at $95,000. 19.42% of the stock is currently owned by institutional investors and hedge funds.

About Skillz

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.