Skillsoft (NYSE:SKIL) Trading Up 5.3% – Time to Buy?

Skillsoft Corp. (NYSE:SKIL)’s share price was up 5.3% on Wednesday . The company traded as high as $4.29 and last traded at $4.0740. Approximately 172,472 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 121,251 shares. The stock had previously closed at $3.87.

Analysts Set New Price Targets

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

Skillsoft Stock Performance

The stock has a market capitalization of $35.69 million, a P/E ratio of -0.26, a PEG ratio of 0.12 and a beta of 1.82. The firm has a 50-day moving average of $6.13 and a 200 day moving average of $9.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 142.97.

Hedge Funds Weigh In On Skillsoft

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Skillsoft by 330.0% during the 4th quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock valued at $42,000 after acquiring an additional 1,343 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Skillsoft by 20.5% in the first quarter. Cubist Systematic Strategies LLC now owns 9,370 shares of the company’s stock worth $180,000 after purchasing an additional 1,593 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Skillsoft by 122.9% in the first 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 bought a new position in Skillsoft during the first quarter worth about $296,000. Finally, Acadian Asset Management LLC boosted its holdings 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 purchasing an additional 29,914 shares in the last quarter. 87.00% of the stock is owned by institutional investors.

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.