Skillz (NYSE:SKLZ) Trading Up 2.1% – Should You Buy?

Skillz Inc. (NYSE:SKLZ) shot up 2.1% on Wednesday . The stock traded as high as $5.82 and last traded at $5.67. 59,938 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 107,055 shares. The stock had previously closed at $5.55.

Skillz Price Performance

The company has a market cap of $98.75 million, a price-to-earnings ratio of -2.52 and a beta of 2.74. The company has a fifty day simple moving average of $5.87 and a two-hundred day simple moving average of $5.69. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63.

Institutional Investors Weigh In On Skillz

A number of large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its holdings in Skillz by 144.1% in the 4th quarter. Two Sigma Advisers LP now owns 27,610 shares of the company’s stock valued at $139,000 after purchasing an additional 16,300 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Skillz during the fourth quarter valued at approximately $57,000. BNP Paribas Financial Markets acquired a new stake in Skillz during the fourth quarter worth approximately $78,000. Jane Street Group LLC acquired a new stake in Skillz during the fourth quarter worth approximately $132,000. Finally, PDT Partners LLC purchased a new stake in Skillz in the 4th quarter worth approximately $141,000. Institutional investors and hedge funds 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.