Nerdy (NYSE:NRDY) Shares Down 6.2% – Time to Sell?

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NRDY. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nerdy in a research report on Friday, July 17th. Wall Street Zen lowered Nerdy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nerdy currently has an average rating of “Reduce” and a consensus price target of $15.00.

Nerdy Price Performance

The stock’s fifty day moving average price is $10.10 and its two-hundred day moving average price is $12.01. The firm has a market capitalization of $98.34 million, a price-to-earnings 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.

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

Nerdy Company Profile

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.