Skillz (NYSE:SKLZ) Trading Down 3.7% - Should You Sell?

Skillz Inc. (NYSE:SKLZ - Get Free Report) was down 3.7% during trading on Monday . The company traded as low as $3.54 and last traded at $3.72. Approximately 109,847 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 93,644 shares. The stock had previously closed at $3.86.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "outperform" rating and set a $15.00 price target on shares of Skillz in a research note on Friday, March 14th.

Skillz Trading Up 3.9 %

The business has a 50-day moving average of $5.21 and a 200-day moving average of $5.41. The stock has a market capitalization of $72.77 million, a price-to-earnings ratio of -1.86 and a beta of 2.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 5.80 and a current ratio of 5.80.

Skillz (NYSE:SKLZ - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.61). The firm had revenue of $20.37 million during the quarter, compared to analyst estimates of $25.07 million. Skillz had a negative net margin of 40.87% and a negative return on equity of 38.95%. As a group, research analysts forecast that Skillz Inc. will post -4.35 EPS for the current year.

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Institutional Investors Weigh In On Skillz

A number of institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Skillz in the 4th quarter valued at about $35,000. Occudo Quantitative Strategies LP acquired a new position in shares of Skillz in the fourth quarter valued at approximately $57,000. Wealthquest Corp acquired a new position in shares of Skillz in the third quarter valued at approximately $68,000. LPL Financial LLC purchased a new stake in shares of Skillz during the fourth quarter worth approximately $74,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Skillz during the fourth quarter worth $78,000. 19.42% of the stock is owned by hedge funds and other institutional investors.

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.