Nerdy, Inc. (NYSE:NRDY – Get Rating) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,560,000 shares, a decline of 25.6% from the March 15th total of 3,440,000 shares. Based on an average daily trading volume, of 551,000 shares, the days-to-cover ratio is currently 4.6 days. Currently, 8.8% of the shares of the stock are sold short.
A number of equities analysts have commented on NRDY shares. Zacks Investment Research raised Nerdy from a “sell” rating to a “hold” rating in a research note on Thursday, January 20th. Raymond James cut their price target on Nerdy from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. The Goldman Sachs Group started coverage on Nerdy in a research note on Friday, January 7th. They set a “buy” rating and a $8.00 price target on the stock. Barclays dropped their price objective on Nerdy from $9.00 to $5.00 in a report on Tuesday, March 1st. Finally, JMP Securities dropped their price objective on Nerdy from $13.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.67.
In related news, CEO Charles K. Cohn purchased 221,408 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were acquired at an average price of $4.52 per share, with a total value of $1,000,764.16. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
An institutional investor recently raised its position in Nerdy stock. Bank of America Corp DE grew its holdings in Nerdy, Inc. (NYSE:NRDY – Get Rating) by 13.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,160 shares of the company’s stock after buying an additional 6,767 shares during the period. Bank of America Corp DE owned 0.10% of Nerdy worth $558,000 at the end of the most recent quarter. 55.11% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:NRDY opened at $4.35 on Friday. The stock has a 50-day simple moving average of $4.58 and a 200 day simple moving average of $5.78. Nerdy has a 52-week low of $3.78 and a 52-week high of $13.49. The company has a market cap of $687.74 million, a PE ratio of -36.25 and a beta of -0.37.
Nerdy Company Profile (Get Rating)
Nerdy, Inc operates platform for live online learning. The company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.
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