Skillz (NYSE:SKLZ) Shares Down 4.8% – Should You Sell?

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

Analysts Set New Price Targets

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

Skillz Stock Performance

The company has a market capitalization of $40.65 million, a PE ratio of -0.65 and a beta of 2.96. The firm has a 50-day moving average of $3.39 and a two-hundred day moving average of $5.12. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 1.00.

Hedge Funds Weigh In On Skillz

Several large investors have recently made changes to their positions in SKLZ. Jane Street Group LLC grew its position in shares of Skillz by 15.9% during the 2nd quarter. Jane Street Group LLC now owns 27,282 shares of the company’s stock valued at $186,000 after acquiring an additional 3,738 shares during the period. Pacer Advisors Inc. boosted its position in Skillz by 335.6% during the third quarter. Pacer Advisors Inc. now owns 5,645 shares of the company’s stock worth $45,000 after purchasing an additional 4,349 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Skillz by 37.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 34,771 shares of the company’s stock worth $150,000 after purchasing an additional 9,402 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Skillz by 496.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 11,929 shares of the company’s stock valued at $51,000 after purchasing an additional 9,929 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Skillz in the fourth quarter valued at approximately $44,000. 19.42% of the stock is currently owned by institutional investors and hedge funds.

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.