Nerdy Inc. (NYSE:NRDY) Sees Large Drop in Short Interest

Nerdy Inc. (NYSE:NRDY) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 4,527,931 shares, a decrease of 40.4% from the June 15th total of 7,591,316 shares. Based on an average daily volume of 1,356,208 shares, the short-interest ratio is currently 3.3 days. Approximately 4.9% of the shares of the stock are short sold.

Nerdy Trading Up 0.0%

Nerdy stock traded up $0.00 during trading hours on Thursday, reaching $0.85. 369,870 shares of the company’s stock traded hands, compared to its average volume of 698,856. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.41 and a current ratio of 2.41. Nerdy has a fifty-two week low of $0.75 and a fifty-two week high of $1.74. The firm has a market capitalization of $160.83 million, a price-to-earnings ratio of -3.01 and a beta of 1.73. The firm’s 50 day moving average is $0.87 and its 200-day moving average is $0.92.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Nerdy had a negative net margin of 18.60% and a negative return on equity of 93.27%. The company had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $47.33 million. On average, analysts predict that Nerdy will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $1.00.

Insider Activity at Nerdy

In related news, CEO Charles K. Cohn purchased 250,007 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $1.00 per share, with a total value of $250,007.00. Following the completion of the purchase, the chief executive officer directly owned 978,311 shares of the company’s stock, valued at $978,311. This trade represents a 34.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 978,311 shares of company stock worth $950,853 over the last quarter. 51.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Nerdy in the fourth quarter valued at approximately $25,000. Engineers Gate Manager LP bought a new stake in shares of Nerdy in the fourth quarter worth $28,000. Bridgeway Capital Management LLC boosted its holdings in Nerdy by 62.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after purchasing an additional 102,400 shares during the last quarter. Abel Hall LLC bought a new position in Nerdy in the fourth quarter valued at $67,000. Finally, Symmetry Peak Management LLC acquired a new stake in Nerdy in the 4th quarter valued at $26,000. Institutional investors own 39.10% of the company’s stock.

Nerdy Company Profile

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.