Nerdy (NYSE:NRDY) Stock Price Down 6.2% – Here’s Why

Nerdy Inc. (NYSE:NRDY)’s share price traded down 6.2% during trading on Friday. The stock traded as low as $7.65 and last traded at $7.6950. Approximately 11,526 shares were traded during mid-day trading, a decline of 31% from the average session volume of 16,790 shares. The stock had previously closed at $8.20.

Analysts Set New Price Targets

A number of analysts have weighed in on NRDY shares. Wall Street Zen cut shares of Nerdy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Nerdy in a report on Friday, July 17th. One investment 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.com, Nerdy presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

Nerdy Price Performance

The firm has a market capitalization of $98.34 million, a PE ratio of -2.05 and a beta of 1.79. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average price of $10.10 and a two-hundred day moving average price of $12.01.

Nerdy (NYSE:NRDY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.71. The firm had revenue of $43.23 million for the quarter, compared to the consensus estimate of $43.00 million. Nerdy had a negative return on equity of 100.13% and a negative net margin of 16.99%. Sell-side analysts forecast that Nerdy Inc. will post -2.55 earnings per share for the current year.

About Nerdy

Nerdy, Inc is an education technology company that provides online learning services through its Varsity Tutors platform. The company connects students and families with instructors for personalized instruction, small-group classes, test preparation, academic support and enrichment programs.

Its offerings cover a range of subjects and educational needs, including core academic subjects, language learning, college admissions preparation and professional certification support. Nerdy also provides learning tools and services for schools and other institutions, with technology designed to support online instruction and student engagement.

Founded in 2007 by Charles Cohn, Nerdy became a publicly traded company in 2021 through a business combination with a special purpose acquisition company.