Nerdy, Inc. (NYSE:NRDY – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.90.
Several research firms recently commented on NRDY. Canaccord Genuity Group reduced their price target on shares of Nerdy from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. The Goldman Sachs Group cut their target price on shares of Nerdy from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 15th. Barclays cut their target price on shares of Nerdy from $4.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 18th. Raymond James cut their target price on shares of Nerdy from $5.00 to $3.50 and set an “outperform” rating on the stock in a research report on Tuesday, November 15th. Finally, Needham & Company LLC raised their price target on shares of Nerdy from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, August 16th.
Nerdy Price Performance
NRDY stock opened at $2.27 on Tuesday. The company has a market capitalization of $364.38 million, a PE ratio of -20.64 and a beta of 1.44. Nerdy has a 12 month low of $1.59 and a 12 month high of $6.53. The firm’s 50-day moving average is $2.27 and its 200 day moving average is $2.57.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Greenhaven Road Investment Management L.P. acquired a new position in Nerdy in the third quarter valued at about $745,000. BNP Paribas Arbitrage SNC purchased a new position in Nerdy in the third quarter valued at approximately $68,000. State Street Corp increased its stake in Nerdy by 16.3% in the third quarter. State Street Corp now owns 853,651 shares of the company’s stock valued at $1,801,000 after purchasing an additional 119,456 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nerdy by 4.8% in the third quarter. Vanguard Group Inc. now owns 2,787,332 shares of the company’s stock valued at $5,881,000 after acquiring an additional 126,896 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Nerdy by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 156,183 shares of the company’s stock valued at $330,000 after acquiring an additional 14,442 shares during the period. Institutional investors and hedge funds own 75.34% of the company’s stock.
Nerdy Company Profile
Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.
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