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

Skillsoft Corp. (NYSE:SKIL)’s stock price rose 3.4% during mid-day trading on Wednesday . The company 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

SKIL has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Skillsoft in a research note on Friday, March 27th. Zacks Research downgraded Skillsoft from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Skillsoft Stock Up 3.4%

The company has a debt-to-equity ratio of 142.97, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a fifty day moving average price of $5.59 and a 200 day moving average price of $7.27. The firm has a market capitalization of $64.56 million, a price-to-earnings ratio of -0.44, a PEG ratio of 0.21 and a beta of 2.27.

Skillsoft (NYSE:SKIL) last posted its quarterly earnings results on Tuesday, April 7th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.01). The business had revenue of $130.65 million during the quarter, compared to analyst estimates of $130.15 million. Skillsoft had a negative net margin of 27.27% and a positive return on equity of 112.12%. During the same period in the prior year, the business earned ($3.75) earnings per share. As a group, sell-side analysts expect that Skillsoft Corp. will post 3.38 EPS for the current fiscal year.

Institutional Trading of Skillsoft

Several hedge funds have recently modified their holdings of SKIL. Renaissance Technologies LLC raised its holdings in Skillsoft by 11.1% during the first quarter. Renaissance Technologies LLC now owns 61,009 shares of the company’s stock worth $262,000 after purchasing an additional 6,100 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Skillsoft by 23.7% during the first quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company’s stock worth $67,000 after purchasing an additional 2,985 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Skillsoft by 374.2% during 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 during the last quarter. XTX Topco Ltd acquired a new position in Skillsoft during the fourth quarter worth $100,000. Finally, Engineers Gate Manager LP acquired a new position in Skillsoft during the fourth quarter worth $125,000. 87.00% of the stock is owned by institutional investors and hedge funds.

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.