Skillz (NYSE:SKLZ) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Skillz (NYSE:SKLZ) in a report published on Friday morning,RTT News reports. They currently have a $15.00 price target on the stock.

Skillz Stock Performance

NYSE SKLZ opened at $4.40 on Friday. Skillz has a fifty-two week low of $4.33 and a fifty-two week high of $7.48. The stock has a market cap of $76.61 million, a price-to-earnings ratio of -1.95 and a beta of 2.74. The business has a fifty day moving average of $5.97 and a 200-day moving average of $5.63. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.63.

Hedge Funds Weigh In On Skillz

Institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in shares of Skillz by 36.5% in the third quarter. GSA Capital Partners LLP now owns 160,801 shares of the company’s stock worth $904,000 after acquiring an additional 42,998 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Skillz by 58.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 83,939 shares of the company’s stock valued at $472,000 after purchasing an additional 30,903 shares during the period. R Squared Ltd purchased a new stake in shares of Skillz in the fourth quarter valued at $35,000. Wealthquest Corp purchased a new stake in shares of Skillz in the third quarter valued at $68,000. Finally, Two Sigma Advisers LP grew its position in shares of Skillz by 144.1% in the fourth quarter. Two Sigma Advisers LP now owns 27,610 shares of the company’s stock valued at $139,000 after purchasing an additional 16,300 shares during the period. 19.42% of the stock is 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.