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

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. 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 MarketBeat.com, the company presently has an average rating of “Reduce”.

Skillsoft Stock Up 1.2%

The company’s 50-day moving average is $7.23 and its 200-day moving average is $6.36. The stock has a market capitalization of $73.98 million, a price-to-earnings ratio of -0.50, a PEG ratio of 0.26 and a beta of 2.24.

Skillsoft (NYSE:SKIL) last posted its earnings results on Tuesday, June 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.11. The company had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $121.10 million. Skillsoft had a negative return on equity of 221.25% and a negative net margin of 30.00%. Sell-side analysts anticipate that Skillsoft Corp. will post 3 EPS for the current year.

Insider Transactions at Skillsoft

In other news, Director Jim Frankola purchased 27,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $6.05 per share, for a total transaction of $163,350.00. Following the completion of the purchase, the director directly owned 95,306 shares of the company’s stock, valued at approximately $576,601.30. This trade represents a 39.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKIL. Bank of America Corp DE increased its stake in shares of Skillsoft by 330.0% during the fourth quarter. Bank of America Corp DE now owns 1,750 shares of the company’s stock worth $42,000 after buying an additional 1,343 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Skillsoft by 20.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 9,370 shares of the company’s stock worth $180,000 after buying an additional 1,593 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Skillsoft by 122.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 150,254 shares of the company’s stock worth $2,891,000 after acquiring an additional 82,860 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Skillsoft in the 1st quarter valued at about $296,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Skillsoft by 286.0% in the 1st quarter. Acadian Asset Management LLC now owns 40,374 shares of the company’s stock valued at $774,000 after acquiring an additional 29,914 shares during the last quarter. 87.00% of the stock is currently owned by hedge funds and other institutional investors.

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.