Skillsoft (NYSE:SKIL) Stock Price Up 3.8% – Time to Buy?

Skillsoft Corp. (NYSE:SKIL)’s stock price traded up 3.8% during mid-day trading on Wednesday . The stock traded as high as $8.16 and last traded at $7.91. 23,142 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 51,314 shares. The stock had previously closed at $7.62.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Skillsoft presently has a consensus rating of “Reduce”.

Skillsoft Trading Up 3.8%

The company’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $6.37. The firm has a market cap of $70.95 million, a PE ratio of -0.48, a PEG ratio of 0.25 and a beta of 2.24.

Skillsoft (NYSE:SKIL) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.05 by $1.11. The firm had revenue of $94.50 million during the quarter, compared to analyst estimates of $121.10 million. Skillsoft had a negative return on equity of 221.25% and a negative net margin of 30.00%. Equities research analysts expect that Skillsoft Corp. will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jim Frankola purchased 27,000 shares of Skillsoft stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $6.05 per share, for a total transaction of $163,350.00. Following the completion of the transaction, the director directly owned 95,306 shares in the company, valued at $576,601.30. This represents a 39.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised 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 acquiring an additional 1,343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Skillsoft in the second quarter worth approximately $39,000. New York State Common Retirement Fund bought a new position in shares of Skillsoft in the second quarter worth approximately $96,000. Public Employees Retirement System of Ohio increased its stake in shares of Skillsoft by 330.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,130 shares of the company’s stock worth $57,000 after purchasing an additional 4,705 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Skillsoft by 374.2% in the fourth quarter. NewEdge Advisors LLC now owns 7,331 shares of the company’s stock worth $68,000 after purchasing an additional 5,785 shares in the last quarter. 87.00% of the stock is currently owned by institutional investors.

Skillsoft Company Profile

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.