Skillz (NYSE:SKLZ) Trading Down 8% – Should You Sell?

Skillz Inc. (NYSE:SKLZ) shares traded down 8% on Thursday . The stock traded as low as $3.10 and last traded at $3.1190. 77,814 shares changed hands during trading, an increase of 16% from the average session volume of 67,345 shares. The stock had previously closed at $3.39.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SKLZ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Skillz in a research report on Wednesday, January 21st. Wall Street Zen upgraded Skillz from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Skillz Price Performance

The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average of $4.62 and a 200 day moving average of $6.40. The firm has a market capitalization of $47.13 million, a PE ratio of -0.75 and a beta of 2.99.

Skillz (NYSE:SKLZ) last posted its earnings results on Thursday, December 11th. The company reported ($1.14) EPS for the quarter. The firm had revenue of $27.37 million for the quarter. Skillz had a negative return on equity of 50.96% and a negative net margin of 69.44%. As a group, research analysts anticipate that Skillz Inc. will post -4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in shares of Skillz by 15.9% in the second quarter. Jane Street Group LLC now owns 27,282 shares of the company’s stock worth $186,000 after buying an additional 3,738 shares in the last quarter. Pacer Advisors Inc. raised its stake in Skillz by 335.6% in the third quarter. Pacer Advisors Inc. now owns 5,645 shares of the company’s stock valued at $45,000 after purchasing an additional 4,349 shares in the last quarter. Millennium Management LLC bought a new stake in Skillz during the third quarter valued at approximately $97,000. Bridgeway Capital Management LLC purchased a new position in Skillz in the 2nd quarter worth approximately $93,000. Finally, XTX Topco Ltd bought a new position in shares of Skillz in the 2nd quarter worth $112,000. Hedge funds and other institutional investors own 19.42% of the company’s stock.

About Skillz

Skillz Inc (NYSE: SKLZ) operates a mobile e-sports platform that connects game developers, advertisers and players through skill-based competition. By integrating its software development kit into a variety of casual and midcore mobile titles, the company enables in-app tournaments and head-to-head matches in which users compete for virtual or cash prizes. Skillz’s marketplace also offers real-time leaderboards, live events and social features designed to enhance player engagement and retention.

The company’s core offering includes developer tools and analytics that help game studios monetize through entry fees, in-game purchases and ad revenue sharing.