Skillz (NYSE:SKLZ) Shares Down 4.8% – What’s Next?

Skillz Inc. (NYSE:SKLZ)’s share price was down 4.8% during trading on Monday . The company traded as low as $2.23 and last traded at $2.2760. Approximately 59,782 shares traded hands during trading, an increase of 15% from the average daily volume of 52,086 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Skillz in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

Skillz Price Performance

The company has a market cap of $34.39 million, a price-to-earnings ratio of -0.55 and a beta of 2.96. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.32 and a current ratio of 4.32. The business has a fifty day moving average price of $3.43 and a 200 day moving average price of $5.15.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKLZ. Hsbc Holdings PLC bought a new stake in Skillz during the 4th quarter worth $44,000. Public Employees Retirement System of Ohio raised its stake in shares of Skillz by 496.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,929 shares of the company’s stock valued at $51,000 after acquiring an additional 9,929 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Skillz by 122.6% during the fourth quarter. Squarepoint Ops LLC now owns 80,054 shares of the company’s stock worth $345,000 after purchasing an additional 44,092 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Skillz in the fourth quarter worth $55,000. Finally, Dimensional Fund Advisors LP increased its holdings in Skillz by 37.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 34,771 shares of the company’s stock valued at $150,000 after purchasing an additional 9,402 shares during the period. 19.42% of the stock is currently owned by institutional investors.

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.