Skillz (NYSE:SKLZ) Shares Up 2.1% – Here’s Why

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

Skillz Stock Performance

The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $5.69. The stock has a market capitalization of $98.75 million, a P/E ratio of -2.52 and a beta of 2.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in Skillz by 13.1% during the fourth quarter. Marshall Wace LLP now owns 20,299 shares of the company’s stock worth $102,000 after purchasing an additional 2,359 shares during the last quarter. Renaissance Technologies LLC lifted 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 worth $2,036,000 after buying an additional 6,200 shares during the last quarter. R Squared Ltd acquired a new position in shares of Skillz in the 4th quarter valued at about $35,000. Occudo Quantitative Strategies LP bought a new stake in shares of Skillz during the 4th quarter valued at about $57,000. Finally, Wealthquest Corp acquired a new stake in Skillz during the third quarter worth about $68,000. Institutional investors and hedge funds own 19.42% of the company’s stock.

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.