Skillz (NYSE:SKLZ) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Skillz (NYSE:SKLZ - Free Report) from a sell rating to a hold rating in a research note released on Thursday.

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

Skillz Trading Down 7.3%

Shares of SKLZ stock traded down $0.48 on Thursday, reaching $6.08. The company had a trading volume of 41,507 shares, compared to its average volume of 88,074. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.63. The stock has a market cap of $105.89 million, a PE ratio of -2.70 and a beta of 2.71. The company has a 50-day moving average of $4.93 and a 200-day moving average of $5.36. Skillz has a 12 month low of $3.54 and a 12 month high of $7.48.

Skillz (NYSE:SKLZ - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.17. Skillz had a negative return on equity of 38.95% and a negative net margin of 40.87%. The business had revenue of $22.41 million during the quarter, compared to analyst estimates of $21.57 million. On average, equities analysts forecast that Skillz will post -4.35 earnings per share for the current year.

Hedge Funds Weigh In On Skillz

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of Skillz by 1.6% in the 4th quarter. Renaissance Technologies LLC now owns 404,825 shares of the company's stock valued at $2,036,000 after purchasing an additional 6,200 shares during the period. Trexquant Investment LP grew its stake in shares of Skillz by 56.5% during the 1st quarter. Trexquant Investment LP now owns 70,330 shares of the company's stock worth $316,000 after acquiring an additional 25,405 shares in the last quarter. PDT Partners LLC grew its stake in shares of Skillz by 7.8% during the 1st quarter. PDT Partners LLC now owns 30,275 shares of the company's stock worth $136,000 after acquiring an additional 2,200 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Skillz by 136.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 28,823 shares of the company's stock worth $145,000 after acquiring an additional 16,622 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Skillz by 144.1% during the 4th quarter. Two Sigma Advisers LP now owns 27,610 shares of the company's stock worth $139,000 after acquiring an additional 16,300 shares in the last quarter. 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.