Skillsoft (NYSE:SKIL) Stock Price Up 2% – Here’s Why

Skillsoft Corp. (NYSE:SKIL) shares traded up 2% during trading on Wednesday . The stock traded as high as $4.41 and last traded at $4.18. 74,003 shares were traded during mid-day trading, a decline of 59% from the average session volume of 179,531 shares. The stock had previously closed at $4.10.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Skillsoft in a research note on Monday, December 29th. Zacks Research downgraded shares of Skillsoft from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Wall Street Zen lowered shares of Skillsoft from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Skillsoft Trading Up 1.1%

The company has a debt-to-equity ratio of 142.97, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average of $7.42 and a 200-day moving average of $10.64. The stock has a market capitalization of $40.29 million, a price-to-earnings ratio of -0.29, a price-to-earnings-growth ratio of 0.12 and a beta of 1.82.

Skillsoft (NYSE:SKIL) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.39. Skillsoft had a negative net margin of 26.02% and a positive return on equity of 40.31%. The company had revenue of $129.00 million during the quarter, compared to analyst estimates of $131.60 million. On average, equities analysts anticipate that Skillsoft Corp. will post -11.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skillsoft

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Skillsoft by 330.0% in the 4th quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock worth $42,000 after acquiring an additional 1,343 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Skillsoft by 20.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 9,370 shares of the company’s stock valued at $180,000 after purchasing an additional 1,593 shares during the period. Goldman Sachs Group Inc. increased its stake in Skillsoft by 122.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 150,254 shares of the company’s stock worth $2,891,000 after purchasing an additional 82,860 shares in the last quarter. Jane Street Group LLC acquired a new stake in Skillsoft during the 1st quarter worth about $296,000. Finally, Acadian Asset Management LLC lifted its stake in Skillsoft by 286.0% during the first quarter. Acadian Asset Management LLC now owns 40,374 shares of the company’s stock valued at $774,000 after buying an additional 29,914 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

About Skillsoft

Skillsoft (NYSE: SKIL) is a leading provider of corporate digital learning solutions designed to help organizations develop skills and drive performance. The company offers a range of cloud-based learning platforms and content libraries that cover technical training, leadership development, compliance, and productivity applications. Skillsoft’s flagship platform, Percipio, delivers micro-learning modules, video tutorials, books and audiobooks, hands-on labs and simulations, and practice assessments within a unified interface that can be accessed on desktop or mobile devices.

Skillsoft’s content spans IT certification preparation, software development, cloud computing, cybersecurity, project management, and a variety of professional skills such as communication, management and sales.