Skillsoft (NYSE:SKIL) Trading Up 3.4% – Here’s Why

Skillsoft Corp. (NYSE:SKIL) shares were up 3.4% during mid-day trading on Wednesday . The stock traded as high as $7.30 and last traded at $7.2090. Approximately 64,791 shares changed hands during trading, a decline of 44% from the average daily volume of 116,461 shares. The stock had previously closed at $6.97.

Analyst Ratings Changes

Several equities analysts recently issued reports on SKIL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Skillsoft in a research note on Friday, March 27th. Zacks Research lowered Skillsoft from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Skillsoft currently has a consensus rating of “Reduce”.

Skillsoft Trading Up 3.4%

The firm has a market cap of $64.56 million, a PE ratio of -0.44, a P/E/G ratio of 0.21 and a beta of 2.27. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 142.97. The business has a fifty day moving average price of $5.59 and a 200 day moving average price of $7.27.

Skillsoft (NYSE:SKIL) last released its quarterly earnings data on Tuesday, April 7th. The company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.01). Skillsoft had a negative net margin of 27.27% and a positive return on equity of 112.12%. The business had revenue of $130.65 million during the quarter, compared to analysts’ expectations of $130.15 million. During the same quarter in the previous year, the company posted ($3.75) EPS. Analysts forecast that Skillsoft Corp. will post 3.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Skillsoft during the 2nd quarter worth approximately $39,000. Bank of America Corp DE grew its stake in Skillsoft by 330.0% during the 4th quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock worth $42,000 after buying an additional 1,343 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Skillsoft by 330.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,130 shares of the company’s stock worth $57,000 after buying an additional 4,705 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Skillsoft by 23.7% during the 1st quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company’s stock worth $67,000 after buying an additional 2,985 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Skillsoft by 374.2% during the 4th quarter. NewEdge Advisors LLC now owns 7,331 shares of the company’s stock worth $68,000 after buying an additional 5,785 shares during the last quarter. Hedge funds and other institutional investors 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.