Nerdy (NYSE:NRDY) Earns Buy Rating from Needham & Company LLC

Nerdy (NYSE:NRDY)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $2.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 142.37% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and set a $3.00 target price (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Canaccord Genuity Group cut Nerdy from a “buy” rating to a “hold” rating and decreased their target price for the company from $5.00 to $3.00 in a research note on Friday, August 9th. JMP Securities restated a “market perform” rating on shares of Nerdy in a report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a research note on Friday. Finally, Northland Securities downgraded Nerdy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.86.

Nerdy Stock Down 7.3 %

NRDY stock traded down $0.06 during midday trading on Friday, reaching $0.83. 3,654,546 shares of the company’s stock traded hands, compared to its average volume of 1,183,026. The company has a 50-day simple moving average of $0.97 and a two-hundred day simple moving average of $1.46. Nerdy has a 1-year low of $0.73 and a 1-year high of $3.60. The company has a market cap of $146.93 million, a price-to-earnings ratio of -2.50 and a beta of 1.68.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. The business had revenue of $50.98 million for the quarter, compared to the consensus estimate of $51.14 million. During the same quarter in the prior year, the company earned ($0.07) EPS. Equities research analysts forecast that Nerdy will post -0.48 EPS for the current year.

Insider Activity at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $0.85, for a total value of $43,267.55. Following the completion of the sale, the chief financial officer now owns 2,356,200 shares in the company, valued at $2,002,770. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total value of $43,267.55. Following the transaction, the chief financial officer now owns 2,356,200 shares in the company, valued at approximately $2,002,770. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles K. Cohn acquired 10,993,192 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $0.89 per share, with a total value of $9,783,940.88. Following the transaction, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at $11,668,539.02. This trade represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 13,212,528 shares of company stock worth $12,063,972 in the last ninety days. 31.35% of the stock is owned by company insiders.

Institutional Trading of Nerdy

Several institutional investors and hedge funds have recently modified their holdings of NRDY. SG Americas Securities LLC bought a new position in Nerdy in the 3rd quarter valued at approximately $29,000. AM Investment Strategies LLC bought a new stake in Nerdy during the 3rd quarter worth $29,000. nVerses Capital LLC acquired a new position in Nerdy in the 2nd quarter worth about $34,000. Bayesian Capital Management LP bought a new position in Nerdy in the first quarter valued at about $101,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Nerdy during the third quarter valued at about $138,000. 39.10% of the stock is currently owned by institutional investors.

Nerdy Company Profile

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.