Skillz (NYSE:SKLZ) Shares Up 2.7% - What's Next?

Skillz Inc. (NYSE:SKLZ - Get Free Report) shares traded up 2.7% during trading on Monday . The stock traded as high as $6.90 and last traded at $6.86. 83,788 shares were traded during trading, an increase of 2% from the average session volume of 82,467 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

Several research analysts have weighed in on SKLZ shares. Wall Street Zen upgraded Skillz from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Wedbush upgraded shares of Skillz to a "strong-buy" rating in a research report on Tuesday.

Skillz Stock Up 1.0%

The firm's fifty day moving average is $6.13 and its 200-day moving average is $5.59. The stock has a market capitalization of $127.94 million, a PE ratio of -3.37 and a beta of 2.76.

Skillz (NYSE:SKLZ - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.92) earnings per share for the quarter, topping analysts' consensus estimates of ($1.09) by $0.17. Skillz had a negative net margin of 39.33% and a negative return on equity of 35.10%. The business had revenue of $22.41 million for the quarter, compared to analysts' expectations of $21.57 million. On average, analysts expect that Skillz Inc. will post -4.35 EPS for the current year.

Institutional Investors Weigh In On Skillz

Hedge funds and other institutional investors have recently modified their holdings of the stock. PDT Partners LLC increased its stake in Skillz by 7.8% in the 1st quarter. PDT Partners LLC now owns 30,275 shares of the company's stock valued at $136,000 after purchasing an additional 2,200 shares in the last quarter. Marshall Wace LLP increased its position in shares of Skillz by 13.1% in the fourth quarter. Marshall Wace LLP now owns 20,299 shares of the company's stock valued at $102,000 after buying an additional 2,359 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Skillz by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 404,825 shares of the company's stock worth $2,036,000 after buying an additional 6,200 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Skillz in the 4th quarter worth about $57,000. Finally, LPL Financial LLC purchased a new position in Skillz during the 4th quarter valued at about $74,000. 19.42% of the stock is currently owned by institutional investors and hedge funds.

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.