Skillz (NYSE:SKLZ) Shares Up 6% – Should You Buy?

Skillz Inc. (NYSE:SKLZ) was up 6% during trading on Thursday . The company traded as high as $5.49 and last traded at $5.33. Approximately 188,750 shares traded hands during mid-day trading, an increase of 61% from the average daily volume of 116,937 shares. The stock had previously closed at $5.03.

Skillz Trading Down 2.8 %

The company’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $5.83. The company has a market capitalization of $90.29 million, a price-to-earnings ratio of -2.30 and a beta of 2.72. 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

Institutional investors have recently added to or reduced their stakes in the stock. Wealthquest Corp acquired a new stake in shares of Skillz in the third quarter valued at approximately $68,000. Jacobs Levy Equity Management Inc. increased its stake in Skillz by 58.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock valued at $472,000 after buying an additional 30,903 shares during the last quarter. GSA Capital Partners LLP lifted its position in Skillz by 36.5% during the 3rd quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock worth $904,000 after buying an additional 42,998 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Skillz by 0.8% during the 2nd quarter. Renaissance Technologies LLC now owns 392,225 shares of the company’s stock worth $2,816,000 after buying an additional 3,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Skillz in the 2nd quarter valued at about $88,000. 19.42% of the stock is owned by 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.